Stochastic Algorithms, Symmetric Markov Perfect Equilibrium, and the

By Ariel Pakes, P. McGuire. 2001

243 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/b4f0c8433f67dc0b98350e8fb98ac6e4acc9c121

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In Economics and Econometrics

Citations in the corpus

Dynamic Games with Asymmetric Information: A Framework for Empirical Work* (2012, unknown): “It is useful to introduce a distinction made by Pakes and McGuire (2001).”
Informed Traders and Limit Order Markets (2008, methodology): “We use two convergence criteria for each of the two comparisons above, similar to those proposed by Pakes and McGuire (2001), and require that a simulation satisfy both criteria before it has converged.”
Estimating Dynamic Models of Imperfect Competition (2004, unknown): “Research on dynamic competition (e.g. Ericson and Pakes, 1995; Pakes and McGuire, 1994, 2001; Gowrisankaran and Town, 1997; and Benkard, 2004) has shown that computing an equilibrium for even relatively simple industry models is all but prohibitive.”
An approximate dynamic programming approach to solving dynamic oligopoly models (2012, background): “The notion of -weighted MPE, that focuses on ‘relevant’ states, is similar to other concepts that have been previously used to asses the accuracy of approximations to MPE (Weintraub, Benkard, and Van Roy 2008), as stopping criteria (Pakes and McGuire 2001), and as alternative equilibrium concepts to”
Plant Turnover and Demand Fluctuations in the Ready-Mix Concrete Industry (2006, methodology): “Third, in the final stage of the algorithm I switch to the α = 1/h(ai, x) update rule which satisfies the convergence properties in Pakes and McGuire (2001) and more broadly and related to the properties of Stochastic approximation algorithms decribed in Powell (2007) on page 216.”
Avoiding market dominance: product compatibility in markets with network effects (2009, background): “Finally, we follow the majority of the literature on numerically solving dynamic stochastic games by restricting attention to pure strategies (Pakes and McGuire, 1994, 2001).”
Equilibrium in a Dynamic Limit Order Market (2005, unknown): “10 As discussed in Section 1, the full state space for this game is 9 Pakes and McGuire (2001) solve for equilibrium in a dynamic oligopoly, obtaining convergence in firms' value functions.”