We study a two-player, zero-sum, stochastic game with incomplete information on one side in which the players are allowed to play more and more frequently. The informed player observes the realization of a Markov chain on which the payoffs depend, while the non-informed player only observes his...

Economic analysis addresses risk and long-term issues with discounted expected utility, focusing on optimality. Viability theory is based on sustainability constraints to be satisfied over time, focusing on feasibility. We make a bridge between these two approaches by showing that viability is...

This paper develops a formal analysis of the recovery processes for a fishery, from undesired to desired levels of sustainable exploitation, using the theoretical framework of viability control. We define sustainability in terms of biological, economic and social constraints which need to be met...

The maximin criterion defines the highest utility level which can be sustained in an intergenerational equity perspective. The viability approach characterizes all the economic trajectories sustaining a given, not necessarily maximal, utility level. In this paper, we exhibit the strong links...

The competitive equilibrium correspondence, which associates equilibrium prices of commodities and assets with allocations of endowments, identifies the preferences and beliefs of individuals under uncertainty; this is the case even if the asset market is incomplete.