@article{f550a68d4acb4d23b7eae96ae50fc006,
title = "Monotone methods for Markovian equilibrium in dynamic economies",
abstract = "In this paper, we provide an overview of an emerging class of {"}monotone map methods{"} in analyzing distorted equilibrium in dynamic economics. In particular, we focus on proving the existence and characterization of competitive equilibrium in non-optimal versions of the optimal growth models. We suggest two alternative methods: an Euler equation method for a smooth, strongly concave environment, and a value function method for a non-smooth supermodular environment. We are able to extend this analysis to study models that allow for unbounded growth or a labor-leisure choice.",
author = "Manjira Datta and Mirman, {Leonard J.} and Morand, {Olivier F.} and Kevin Reffett",
note = "Funding Information: The authors would like to thank the five referees of this journal for many useful comments. We would also like to thank Rabah Amir and Jean-Marie Viaene for helpful discussions on these and other related matters, and Virginia Morand for suggesting many expositional improvements on an earlier draft. Manjira Datta and Kevin Reffett were on sabbatical leave from the Arizona State University in Spring 2002 when much of the work on this paper was done. Manjira Datta is also grateful to the Center for Operations Research and Econometrics at the University Catholique de Louvain, Jadavpur University and the Indian Statistical Institute for the support she received during her visit. Kevin Reffett thanks the Tinbergen Institute at the Erasmus University for their gracious support of this research during his visit and also the Dean{\textquoteright}s Award for Excellence at College of Business at Arizona State for funding of this research during the summer of 2001. All the usual caveats apply.",
year = "2002",
doi = "10.1023/A:1021058102470",
language = "English (US)",
volume = "114",
pages = "117--144",
journal = "Annals of Operations Research",
issn = "0254-5330",
publisher = "Springer Netherlands",
number = "1-4",
}