Journal ArticleDOI
A nonsmooth approach to envelope theorems
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TLDR
In this paper, a nonsmooth approach to envelope theorems applicable to a broad class of parameterized constrained nonlinear optimization problems that arise typically in economic applications with nonconvexities and/or non-smooth objectives was developed.About:
This article is published in Journal of Mathematical Economics.The article was published on 2015-12-01. It has received 10 citations till now. The article focuses on the topics: Differentiable function & Nonlinear programming.read more
Citations
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Journal ArticleDOI
The effect of interest rates on consumption in an income fluctuation problem
Ehud Lehrer,Bar Light +1 more
TL;DR: This paper examined the effect of a change in interest rates on an agent's consumption and savings decisions when her income is fluctuating and showed that lower interest rates encourage the agent to consume more.
Journal ArticleDOI
Generalized Envelope Theorems: Applications to Dynamic Programming
TL;DR: It is shown that the class of Lipschitz functions provides a suitable framework for the generalization of classical envelope theorems for a broad class of constrained programs relevant to economic models, in which nonconvexities play a key role, and where the primitives may not be continuously differentiable.
Book ChapterDOI
Dynamic games in macroeconomics
TL;DR: In this paper, the authors survey how the methods of dynamic and stochastic games have been applied in macroeconomic research, focusing on strategic dynamic programming, which has found extensive application for solving macroeconomic models.
Posted Content
The converse envelope theorem
TL;DR: In this paper, the converse envelope theorem with a converse was shown to be equivalent to a first-order condition for mechanism design, and was used to extend the canonical result in mechanism design that any increasing allocation is implementable.
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Screening with Endogenous Preferences
Lizi Chen,Casey Rothschild +1 more
TL;DR: In this article, a general framework is developed for studying screening in many-agent discrete type environments where each agent's preferences depend endogenously on the allocations received by the other agents, and the solution to the principal's problem is analyzed by decomposing it, a la Rothschild and Scheuer (2013, 2014b), into an inner problem with fixed preferences and an outer problem with varying preferences.
References
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Journal ArticleDOI
Generalized gradients and applications
Journal ArticleDOI
On the differentiability of the value function in dynamic models of economics
Book
Cost curves and supply curves ..
TL;DR: In this article, the authors present a graphical exposition of the manner in which supply curves are dependent upon the different possible types of technological and pecuniary cost situations, under the usual assumptions of atomistic competition and of rational economic behavior on the part of the producers.
Journal ArticleDOI
Stochastic monotonicity and stationary distributions for dynamic economies
TL;DR: In this paper, the existence and stability of invariant distributions for stochastically monotone Markov processes are studied. And the existence of fixed points of mappings on compact sets of measures that are increasing with respect to a stochastic ordering is established.