This paper reviews a framework for numerically analyzing dynamic interactions in
imperfectly competitive industries. The framework dates back to Ericson and Pakes [1995 …

We obtain a recursive formulation for a general class of optimization problems with forward‐
looking constraints which often arise in economic dynamic models, for example, in …

We argue that poverty can perpetuate itself by undermining the capacity for self‐control. In
line with a distinguished psychological literature, we consider modes of self‐control that …

We analyze collusion in an infinitely repeated Bertrand game, where prices are publicly
observed and each firm receives a privately observed, iid cost shock in each period …

We discuss the identification and estimation of discrete games of complete information.
Following Bresnahan and Reiss (1990, 1991), a discrete game is a generalization of a …

Discrete‐time stochastic games with a finite number of states have been widely applied to
study the strategic interactions among forward‐looking players in dynamic environments …

This paper develops recursive methods to study optimal and time consistent policy in
dynamic models. We analyze a version of Calvo's 1978 monetary model and show that its …

We present an algorithm to compute the set of perfect public equilibrium payoffs as the
discount factor tends to 1 for stochastic games with observable states and public (but not …

Dynamic Programming is a recursive method for solving sequential decision problems
(hereafter abbreviated as SDP). Also known as backward induction, it is used to find optimal …

We build an asset-pricing model with dynamic strategic competition to explain the strong
joint fluctuations in aggregate discount rates, competition intensity, profitability, and asset …