Motivated by recent developments in applied dynamic analysis, this paper presents new sufficient conditions for the existence of Markov perfect equilibrium in dynamic stochastic games. The main results imply the existence of Markov perfect equilibrium provided the sets of actions are compact, the set of states is countable, the period payoff functions are upper semi continuous on the action pro...

We study the repeated implementation of social choice functions in environments with complete information and changing preferences. We define dynamic monotonicity, a natural but nontrivial dynamic extension of Maskin monotonicity, and show that it is necessary and almost sufficient for repeated Nash implementation, regardless of whether the horizon is finite or infinite and whether the discount...

This paper provides a dynamic optimization model of durable good inventories to study the interactions between investment demand and production of capital goods. There are three major findings: First, capital suppliers’ inventory behavior makes investment demand more volatile in equilibrium; Second, equilibrium price of capital is characterized by downward stickiness; Third, the responses of th...

The present paper describes a set of procedures for the solution of nonlinear static-equilibrium problems in the complex multibody mechanical systems. To find the equilibrium position of the system, five optimization techniques are used to minimize the total potential energy of the system. Comparisons are made between these techniques. A computer program is developed to evaluate the equality co...