We study a pure-exchange incomplete-market economy with heterogeneous agents. In each period, the agents choose how much to save (i.e., invest in a risk-free bond), how much to consume, and which b…
The standard solution concept for stochastic games is Markov perfect equilibrium; however, its computation becomes intractable as the number of players increases. Instead, we consider mean field eq…
In multiperiod stochastic optimization problems, the future optimal decision is a random variable whose distribution depends on the parameters of the optimization problem. I analyze how the expecte…