Computing Markov-Perfect Nash Equilibria: Numerical Implications of a Dynamic Differentiated Product Model Export

@article{citeulike:206200, abstract = {In this article we develop and illustrate a simple algorithm for computing Markov-perfect Nash equilibria. The advantage of the Markov-perfect framework is that it is flexible enough to reproduce important aspects of reality in a variety of market settings. As a result, we hope that our article and (perhaps improved) versions of the associated algorithms will eventually be a part of a tool kit that allows researchers to go back and forth between the implications of economic theory and the characteristics of alternative datasets.}, author = {Pakes, Ariel and Mcguire, Paul}, citeulike-article-id = {206200}, citeulike-linkout-0 = {http://dx.doi.org/10.2307/2555975}, citeulike-linkout-1 = {http://www.jstor.org/stable/2555975}, doi = {10.2307/2555975}, issn = {07416261}, journal = {The RAND Journal of Economics}, keywords = {empirical\_io}, number = {4}, pages = {555--589}, posted-at = {2005-05-20 20:23:42}, priority = {2}, publisher = {Blackwell Publishing on behalf of The RAND Corporation}, title = {Computing Markov-Perfect Nash Equilibria: Numerical Implications of a Dynamic Differentiated Product Model}, url = {http://dx.doi.org/10.2307/2555975}, volume = {25}, year = {1994} }

TY - JOUR ID - citeulike:206200 L3 - citeulike-article-id:206200 N2 - In this article we develop and illustrate a simple algorithm for computing Markov-perfect Nash equilibria. The advantage of the Markov-perfect framework is that it is flexible enough to reproduce important aspects of reality in a variety of market settings. As a result, we hope that our article and (perhaps improved) versions of the associated algorithms will eventually be a part of a tool kit that allows researchers to go back and forth between the implications of economic theory and the characteristics of alternative datasets. IS - 4 JF - The RAND Journal of Economics SN - 07416261 EP - 589 TI - Computing Markov-Perfect Nash Equilibria: Numerical Implications of a Dynamic Differentiated Product Model PB - Blackwell Publishing on behalf of The RAND Corporation VL - 25 SP - 555 KW - empirical_io AU - Pakes, Ariel AU - Mcguire, Paul PY - 1994/// UR - http://dx.doi.org/10.2307/2555975 ER -