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Erscheinungsjahr: 
2022
Quellenangabe: 
[Journal:] Theoretical Economics [ISSN:] 1555-7561 [Volume:] 17 [Issue:] 2 [Year:] 2022 [Pages:] 725-762
Verlag: 
The Econometric Society, New Haven, CT
Zusammenfassung: 
We present a new approach to studying equilibrium dynamics in a class of stochastic games with a continuum of players with private types and strategic complementarities. We introduce a suitable equilibrium concept, called Markov Stationary Nash Distributional Equilibrium (MSNDE), prove its existence, and determine comparative statics of equilibrium paths and the steady state invariant distributions to which they converge. Finally, we provide numerous applications of our results including: dynamic models of growth with status concerns, social distance, and paternalistic bequests with endogenous preferences for consumption.
Schlagwörter: 
Large games
distributional equilibria
supermodular games
comparative dynamics
non-aggregative games
social interactions
JEL: 
C62
C72
C73
Persistent Identifier der Erstveröffentlichung: 
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