caa a22 4500 605475784 CHVBK 20210128100353.0 cr unu---uuuuu 210128e20150501xx s 000 0 eng 10.1007/s00199-015-0873-z doi (NATIONALLICENCE)springer-10.1007/s00199-015-0873-z Euler-Lagrange equations of stochastic differential games: application to a game of a productive asset [Elektronische Daten] [Ricardo Josa-Fombellida, Juan Rincón-Zapatero] This paper analyzes a noncooperative and symmetric dynamic game where players have free access to a productive asset whose evolution is a diffusion process with Brownian uncertainty. A Euler-Lagrange equation is found and used to provide necessary and sufficient conditions for the existence and uniqueness of a smooth Markov Perfect Nash Equilibrium. The Euler-Lagrange equation also provides a stochastic Keynes-Ramsey rule, which has the form of a forward-backward stochastic differential equation. It is used to study the properties of the equilibrium and to make some comparative statics exercises. Springer-Verlag Berlin Heidelberg, 2015 Stochastic productive asset nationallicence Markov Perfect Nash Equilibrium nationallicence Euler-Lagrange equations nationallicence Josa-Fombellida Ricardo Departamento de Estadística e Investigación Operativa and IMUVA, Universidad de Valladolid, P. de Belén 7, 47011, Valladolid, Spain aut Rincón-Zapatero Juan Departamento de Economía, Universidad Carlos III de Madrid, C/ Madrid, 126, 28903, Getafe, Madrid, Spain aut Economic Theory Springer Berlin Heidelberg 59/1(2015-05-01), 61-108 0938-2259 59:1<61 2015 59 199 https://doi.org/10.1007/s00199-015-0873-z text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s00199-015-0873-z text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Josa-Fombellida Ricardo Departamento de Estadística e Investigación Operativa and IMUVA, Universidad de Valladolid, P. de Belén 7, 47011, Valladolid, Spain aut NATIONALLICENCE 700 1- Rincón-Zapatero Juan Departamento de Economía, Universidad Carlos III de Madrid, C/ Madrid, 126, 28903, Getafe, Madrid, Spain aut NATIONALLICENCE 773 0- Economic Theory Springer Berlin Heidelberg 59/1(2015-05-01), 61-108 0938-2259 59:1<61 2015 59 199