𝔖 Bobbio Scriptorium
✦   LIBER   ✦

Existence of perfect equilibria in a class of multigenerational stochastic games of capital accumulation

✍ Scribed by Łukasz Balbus; Andrzej S. Nowak

Publisher
Elsevier Science
Year
2008
Tongue
English
Weight
471 KB
Volume
44
Category
Article
ISSN
0005-1098

No coin nor oath required. For personal study only.

✦ Synopsis

In this paper we introduce a model of multigenerational stochastic games of capital accumulation where each generation consists of m different players. The main objective is to prove the existence of a perfect stationary equilibrium in an infinite horizon game. A suitable change in the terminology used in this paper provides (in the case of perfect altruism between generations) a new Nash equilibrium theorem for standard stochastic games with uncountable state space.

📜 SIMILAR VOLUMES

Characterization of Markovian equilibria
Characterization of Markovian equilibria in a class of differential games
✍ J.P Rincón-Zapatero 📂 Article 📅 2004 🏛 Elsevier Science 🌐 English ⚖ 377 KB

We consider an alternative method to the classical one for the determination of Markov perfect Nash equilibria. The approach shown in the paper is based on the study of a quasi-linear system of partial di erential equations instead of the Hamilton-Jacobi-Bellman system. The simpler structure of the