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This paper is concerned with open-loop Stackelberg equilibria of two-player linear-quadratic differential games with mixed leadership. We prove that, under some appropriate assumptions on the coefficients, there exists a unique Stackelberg solution to such a differential game. Moreover, by means...
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For stochastic Stackelberg differential games played by a leader and a follower, there are several solution concepts in terms of the players' information sets. In this paper we derive the maximum principle for the leader's global Stackelberg solution under the adapted closed-loop memoryless...
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In this paper we characterize the feedback equilibrium of a general infinite-horizon Stackelberg-Nash differential game where the roles of the players are mixed. By mixed we mean that one player is a leader on some decisions and a follower on other decisions. We prove a verification theorem that...
Persistent link: https://www.econbiz.de/10012846556
This paper introduces the notion of mixed leadership in non-zero-sum differential games, where there is no fixed hierarchy in decision making with respect to the players. Whether a particular player is leader or follower depends on the instrument variable s/he is controlling, and it is possible...
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