Coase meets Bellman: Dynamic programming for production networks

نویسندگان

چکیده

We show that competitive equilibria in a range of models related to production networks can be recovered as solutions dynamic programs. Although these programs fail contractive, we prove they are tractable. As an illustration, treat Coase's theory the firm, chains with transaction costs, and multiple partners. then how same techniques extend other equilibrium decision problems, such distribution management layers within firms spatial cities.

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ژورنال

عنوان ژورنال: Journal of Economic Theory

سال: 2021

ISSN: ['1095-7235', '0022-0531']

DOI: https://doi.org/10.1016/j.jet.2021.105287