Conference proceeding
Discounted stochastic games with strategic complementarities: theory and applications
Proceedings of the Behavioral and Quantitative Game Theory, pp.1-1
BQGT '10
05/14/2010
DOI: 10.1145/1807406.1807432
Abstract
This paper considers a general class of discounted Markov stochastic games characterized by multidimensional state and action spaces with an order structure, and one-period reward functions and state transition law satisfying some complementarity and monotonicity conditions. Existence of pure-strategy Markov (Markov-stationary) equilibria for the finite (infinite) horizon game, with nondecreasing -and possibly discontinuous - strategies and value functions, is proved. The analysis is based on lattice programming, and not on concavity assumptions. Selected economic applications that fit the underlying framework are described: dynamic search with learning, long-run competition with learning-by-doing or network effects, and resource extraction.
Details
- Title: Subtitle
- Discounted stochastic games with strategic complementarities: theory and applications
- Creators
- Rabah Amir - University of Arizona
- Resource Type
- Conference proceeding
- Publication Details
- Proceedings of the Behavioral and Quantitative Game Theory, pp.1-1
- Publisher
- ACM
- Series
- BQGT '10
- DOI
- 10.1145/1807406.1807432
- Language
- English
- Date published
- 05/14/2010
- Academic Unit
- Economics
- Record Identifier
- 9984380712402771
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