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We call a correspondence, defined on the set of mixed strategy profiles, a generalized best-reply correspondence if it has (1) a product structure, is (2) upper hemi--continuous, (3) always includes a best-reply to any mixed strategy profile, and is (4) convex- and closed-valued. For each...
Persistent link: https://www.econbiz.de/10012714296
In this paper we consider the discounted linear quadratic differential game for descriptor systems that have an index larger than one. We derive both necessary and sufficient conditions for existence of an open-loop Nash (OLN) equilibrium. In a small macro-economic stabilization game we...
Persistent link: https://www.econbiz.de/10012719908
A class of state-redundant differential games games is detected, where players can be partitioned into two groups, so that the state dynamics and the payoff functions of all players are additively separable w.r.t. controls and states of any two players belonging to different groups. We prove...
Persistent link: https://www.econbiz.de/10012720792
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 article investigates rationalizable implementation in social environments where agents can provide hard evidence on the private information they possess. Specifically, we study necessary and sufficient conditions for virtual implementation using a notion of Rationalizability that captures...
Persistent link: https://www.econbiz.de/10012824770
We study games with almost perfect information and an infinite time horizon. In such games, at each stage, the players simultaneously choose actions from finite action sets, knowing the actions chosen at all previous stages. The payoff of each player is a function of all actions chosen during...
Persistent link: https://www.econbiz.de/10012894605
In this paper we review a number of algorithms to compute Nash equilibria in deterministic linear quadratic differential games. We will review the open-loop and feedback information case. In both cases we address both the finite and the infinite-planning horizon
Persistent link: https://www.econbiz.de/10012732556
We study a class of games featuring payoff functions being parabolic cylinders where best reply functions are orthogonal and therefore the pure-strategy non-cooperative solution is attained as a Nash equilibrium in dominant strategies. We prove that the resulting threshold of the discount factor...
Persistent link: https://www.econbiz.de/10013010384
A well established dynamic model describing the impact of oligopolistic interaction on a renewable resource is revisited here to illustrate its dual interpretation as a waste removal differential game. The regulatory implications are illustrated by assuming that the public agency may control...
Persistent link: https://www.econbiz.de/10012961334
We call a correspondence, defined on the set of mixed strategy profiles, a generalized best reply correspondence if it has (1) a product structure, is (2) upper semi-continuous, (3) always includes a best reply to any mixed strategy profile, and is (4) convex- and closed-valued. For each...
Persistent link: https://www.econbiz.de/10013037056