Markov Perfect Industry Dynamics with Many Firms
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We propose an approximation method for analyzing Ericson and Pakes (1995)-style dynamic models of imperfect competition. We develop a simple algorithm for computing an ``oblivious equilibrium,'' in which each firm is assumed to make decisions based only on its own state and knowledge of the long run
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美国国家经济研究局创建时间：
2005-12-01
