We study the solvability problem for the multidimensional Riccati equation −∇$u$=|∇$u$|^{q}+ω, where$q$>1 and ω is an arbitrary nonnegative function (or measure). We also discuss connections with the classical problem of the existence of positive solutions for the Schrödinger equation −Δ$u$−ω$u$=0 with nonnegative potential ω. We establish explicit criteria for the existence of global solutions on$R$^{n}in terms involving geometric (capacity) estimates or pointwise behavior of Riesz potentials, together with sharp pointwise estimates of solutions and their gradients. We also consider the corresponding nonlinear Dirichlet problem on a bounded domain, as well as more general equations of the type$−Lu=f(x, u, ∇u)$+ω where, and$L$is a uniformly elliptic operator.