(s, S) equilibria in stochastic games
Article Abstract:
A stochastic game model assuming the participation of two players could prove to have an equilibrium characterized by Markov perfection in two-sided rules under a situation where either player could make discrete or discontinuous changes in the factors impinging on outcomes. The model has three restrictions including that of fixed cost. The Markov-perfect equilibrium is derived from an analysis of the best response map which is monotonic in nature.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1995
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Dynamic variational preferences
Article Abstract:
An axiom for dynamic variational preferences is tested for application in macro economics and finance management.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2006
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Equilibria in large games with continuous procedures
Article Abstract:
The finds that equilibria are different in large games using boundedly rational procedures.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2003
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