Marzena Rostek from the University of Wisconsin will present "Dynamic Imperfect Competition: A Nonrecursive Approach" joint work with Xian Wu and Ji Hee Yoon.

Abstract: We analyze dynamic, imperfectly competitive markets based on Cournot competition among privately informed traders. We propose both recursive and non-recursive methods to characterize equilibrium in settings where the price process is endogenously non-Markovian. Furthermore, we discuss the relative advantages of each method.