Markov Perfect Nash Equilibria: Some Considerations on Economic Models, Dynamical Systems and Statistical Mechanic

CDSNS Colloquium
Monday, November 29, 2010 - 11:00am
1 hour (actually 50 minutes)
Skiles 169
Georgia Tech
Modern Economic Theory is largely based on the concept of Nash Equilibrium. In its simplest form this is an essentially statics notion. I'll introduce a simple model for the use of money (Kiotaki and Wright, JPE 1989) and use it to introduce a more general (dynamic) concept of Nash Equilibrium and my understanding of its relation to Dynamical Systems Theory and Statistical Mechanics.