On Dynkin's model of economic equilibrium under uncertainty
AbstractThe article analyzes the Dynkin (1975) stochastic model of economic equilibrium. We solve a question regarding this model that was open for a long time. We provide arguments yielding a complete proof of Dynkin's existence theorem for equilibrium paths.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 3 (2001)
Issue (Month): 12 ()
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Find related papers by JEL classification:
- C0 - Mathematical and Quantitative Methods - - General
- D5 - Microeconomics - - General Equilibrium and Disequilibrium
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- Polterovich, Victor, 1973.
"Экономическое Равновесие И Оптимум
[Economic Equilibrium and the Optimum]," MPRA Paper 22359, University Library of Munich, Germany.
- Polterovich, V M, 1983. "Equilibrium Trajectories of Economic Growth," Econometrica, Econometric Society, vol. 51(3), pages 693-729, May.
- Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680.
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