Searcharxiv⌕ Search

arXiv subjects

Juan Pablo Rincón-Zapatero

Publications and source records attributed to Juan Pablo Rincón-Zapatero.

3 recordsLinked to original sources
arXiv2024

What does a dynamic oligopoly maximize? The continuous time Markov case

We analyze the question of whether the outcome of an oligopoly exploiting a nonrenewable resource can be replicated by a related monopoly, within the framework of continuous time and Markov Perfect Nash Equilibrium. We establish necessary and sufficient conditions and find explicit solutions in some cases. Also, very simple models with externalities are shown which Nash equilibrium cannot be replicated in a monopoly.

econ.TH↗
arXiv2019

Existence and Uniqueness of Solutions to the Stochastic Bellman Equation with Unbounded Shock

In this paper we develop a general framework to analyze stochastic dynamic problems with unbounded utility functions and correlated and unbounded shocks. We obtain new results of the existence and uniqueness of solutions to the Bellman equation through a general fixed point theorem that generalizes known results for Banach contractions and local contractions. We study an endogenous growth model as well as the Lucas asset pricing model in an exchange economy, significantly expanding their range of applicability.

econ.TH↗