RECURSIVE COMPETITIVE EQUILIBRIUM: THE CASE OF HOMOGENEOUS HOUSEHOLDS

Edward Prescott and Rajnish Mehra

Chapter 11 in Theory of Valuation, 2005, pp 357-371 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractRecursive 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.

Keywords: Asset Pricing; Financial Theory; Valuation; Term Structure; Interest Rates; Options; Portfolios; Taxes; Transaction Costs (search for similar items in EconPapers)
Date: 2005
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Related works:
Journal Article: Recursive Competitive Equilibrium: The Case of Homogeneous Households (1980)
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