Recursive competitive equilibrium: The case of homogeneous households

Edward C. Prescott, Rajnish Mehra

Research output: Chapter in Book/Report/Conference proceedingChapter


Recursive equilibrium theory is extended and generalized. Optimality of equilibria and supportability of optima are established in a direct way. Four economic applications are reformulated as recursive competitive equilibria and analyzed.

Original languageEnglish (US)
Title of host publicationTheory of Valuation, Second Edition
PublisherWorld Scientific Publishing Co.
Number of pages15
ISBN (Electronic)9789812701022
ISBN (Print)9812563741, 9789812563743
StatePublished - Jan 1 2005

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics, Econometrics and Finance(all)


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