Advanced Search
MyIDEAS: Login to save this paper or follow this series

A Theory of Regular Markov Perfect Equilibria\\in Dynamic Stochastic Games: Genericity, Stability, and Purification

Contents:

Author Info

  • Juan Escobar

    (Stanford)

  • Ulrich Doraszelski

    (Harvard)

Abstract

strongly stable. Moreover, they all admit purification.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.economicdynamics.org/meetpapers/2008/paper_453.pdf
Download Restriction: no

Bibliographic Info

Paper provided by Society for Economic Dynamics in its series 2008 Meeting Papers with number 453.

as in new window
Length:
Date of creation: 2008
Date of revision:
Handle: RePEc:red:sed008:453

Contact details of provider:
Postal: Society for Economic Dynamics Christian Zimmermann Economic Research Federal Reserve Bank of St. Louis PO Box 442 St. Louis MO 63166-0442 USA
Fax: 1-314-444-8731
Email:
Web page: http://www.EconomicDynamics.org/society.htm
More information through EDIRC

Related research

Keywords:

Other versions of this item:

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Govindan, Srihari & Reny, Philip J. & Robson, Arthur J., 2003. "A short proof of Harsanyi's purification theorem," Games and Economic Behavior, Elsevier, Elsevier, vol. 45(2), pages 369-374, November.
  2. Bhaskar, V., 1994. "Informational Constraints and the Overlapping Generations Model: Folk and Anti-Folk Theorems," Papers, Tilburg - Center for Economic Research 9485, Tilburg - Center for Economic Research.
  3. J. Levin & P. Bajari, 2004. "Estimating Dynamic Models of Imperfect Competition," 2004 Meeting Papers, Society for Economic Dynamics 579, Society for Economic Dynamics.
  4. V. Bhaskar & George J. Mailath & Stephen Morris, 2004. "Purification in the Infinitely-Repeated Prisoners’ Dilemma," PIER Working Paper Archive, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania 04-004, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  5. Hotz, V Joseph & Miller, Robert A, 1993. "Conditional Choice Probabilities and the Estimation of Dynamic Models," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 60(3), pages 497-529, July.
  6. Bernheim, B. Douglas & Ray, Debraj, 1989. "Markov perfect equilibria in altruistic growth economies with production uncertainty," Journal of Economic Theory, Elsevier, Elsevier, vol. 47(1), pages 195-202, February.
  7. Maskin, Eric & Tirole, Jean, 2001. "Markov Perfect Equilibrium: I. Observable Actions," Journal of Economic Theory, Elsevier, Elsevier, vol. 100(2), pages 191-219, October.
  8. Ericson, Richard & Pakes, Ariel, 1995. "Markov-Perfect Industry Dynamics: A Framework for Empirical Work," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 62(1), pages 53-82, January.
  9. Daron Acemoglu & James A. Robinson, 2001. "A Theory of Political Transitions," American Economic Review, American Economic Association, American Economic Association, vol. 91(4), pages 938-963, September.
  10. Aguirregabiria, Victor & Ho, Chun-Yu, 2012. "A dynamic oligopoly game of the US airline industry: Estimation and policy experiments," Journal of Econometrics, Elsevier, Elsevier, vol. 168(1), pages 156-173.
  11. Drew Fudenberg & David K. Levine, 1996. "The Theory of Learning in Games," Levine's Working Paper Archive 624, David K. Levine.
  12. Victor Aguirregabiria & Pedro Mira, 2004. "Sequential Estimation Of Dynamic Discrete Games," Working Papers, CEMFI wp2004_0413, CEMFI.
  13. Pakes, Ariel & McGuire, Paul, 2001. "Stochastic Algorithms, Symmetric Markov Perfect Equilibrium, and the 'Curse' of Dimensionality," Econometrica, Econometric Society, Econometric Society, vol. 69(5), pages 1261-81, September.
  14. Ariel Pakes & Michael Ostrovsky & Steve Berry, 2004. "Simple Estimators for the Parameters of Discrete Dynamic Games (with Entry/Exit Samples)," NBER Working Papers 10506, National Bureau of Economic Research, Inc.
  15. Dirk Bergemann & Juuso Valimaki, 1996. "Learning and Strategic Pricing," Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University 1113, Cowles Foundation for Research in Economics, Yale University.
  16. Herings,P. Jean-Jacques & Peeters,Ronald J.A.P, 2000. "Stationary Equilibria in Stochastic Games: Structure, Selection, and Computation," Research Memorandum, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR) 004, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
  17. Fudenberg, Drew & Maskin, Eric, 1986. "The Folk Theorem in Repeated Games with Discounting or with Incomplete Information," Econometrica, Econometric Society, Econometric Society, vol. 54(3), pages 533-54, May.
  18. Fudenberg, Drew & Levine, David, 1998. "Learning in games," European Economic Review, Elsevier, Elsevier, vol. 42(3-5), pages 631-639, May.
  19. Ely, Jeffrey C. & Valimaki, Juuso, 2002. "A Robust Folk Theorem for the Prisoner's Dilemma," Journal of Economic Theory, Elsevier, Elsevier, vol. 102(1), pages 84-105, January.
  20. Govindan, Srihari & Wilson, Robert, 2001. "Direct Proofs of Generic Finiteness of Nash Equilibrium Outcomes," Econometrica, Econometric Society, Econometric Society, vol. 69(3), pages 765-69, May.
  21. Gautam Gowrisankaran & Robert J. Town, 1997. "Dynamic Equilibrium in the Hospital Industry," Journal of Economics & Management Strategy, Wiley Blackwell, Wiley Blackwell, vol. 6(1), pages 45-74, 03.
  22. Victor Aguirregabiria & Pedro Mira, 2002. "Swapping the Nested Fixed Point Algorithm: A Class of Estimators for Discrete Markov Decision Models," Econometrica, Econometric Society, Econometric Society, vol. 70(4), pages 1519-1543, July.
  23. Martin Pesendorfer & Philipp Schmidt-Dengler, 2008. "Asymptotic Least Squares Estimators for Dynamic Games -super-1," Review of Economic Studies, Oxford University Press, vol. 75(3), pages 901-928.
  24. Ariel Pakes, 2000. "A Framework for Applied Dynamic Analysis in I.O," NBER Working Papers 8024, National Bureau of Economic Research, Inc.
  25. Ulrich Doraszelski & Mark Satterthwaite, 2007. "Computable Markov-Perfect Industry Dynamics: Existence, Purification, and Multiplicity," Levine's Bibliography 321307000000000912, UCLA Department of Economics.
  26. Hans Haller & Roger Lagunoff, 2000. "Genericity and Markovian Behavior in Stochastic Games," Econometrica, Econometric Society, Econometric Society, vol. 68(5), pages 1231-1248, September.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. John Rust & Bertel Schjerning & Fedor Iskhakov, 2012. "A Dynamic Model of Leap-Frogging Investments and Bertrand Price Competition," 2012 Meeting Papers, Society for Economic Dynamics 370, Society for Economic Dynamics.
  2. Breitmoser, Yves, 2012. "Cooperation, but no reciprocity: Individual strategies in the repeated Prisoner's Dilemma," MPRA Paper 41731, University Library of Munich, Germany.
  3. Victor, Aguirregabiria, 2009. "A Method for Implementing Counterfactual Experiments in Models with Multiple Equilibria," MPRA Paper 17805, University Library of Munich, Germany.
  4. Wang, Hefei, 2012. "Costly information transmission in continuous time with implications for credit rating announcements," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 36(9), pages 1402-1413.
  5. Victor Aguirregabiria & Pedro Mira, 2013. "Identification of Games of Incomplete Information with Multiple Equilibria and Common Unobserved Heterogeneity," Working Papers, University of Toronto, Department of Economics tecipa-474, University of Toronto, Department of Economics.
  6. V. Bhaskar & George J. Mailath & Stephen Morris, 2012. "A Foundation for Markov Equilibria with Finite Social Memory," PIER Working Paper Archive, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania 12-003, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  7. Demian Pouzo & Ignacio Presno, 2012. "Sovereign default risk and uncertainty premia," Working Papers, Federal Reserve Bank of Boston 12-11, Federal Reserve Bank of Boston.
  8. John Duggan, 2012. "Noisy Stochastic Games," RCER Working Papers, University of Rochester - Center for Economic Research (RCER) 570, University of Rochester - Center for Economic Research (RCER).
  9. Escobar, Juan F., 2013. "Equilibrium analysis of dynamic models of imperfect competition," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 31(1), pages 92-101.
  10. Ron Borkovsky & Ulrich Doraszelski & Yaroslav Kryukov, 2012. "A dynamic quality ladder model with entry and exit: Exploring the equilibrium correspondence using the homotopy method," Quantitative Marketing and Economics, Springer, Springer, vol. 10(2), pages 197-229, June.
  11. V. Bhaskar & George J. Mailathy & Stephen Morris, 2009. "A Foundation for Markov Equilibria in Infinite Horizon Perfect Information Games," Levine's Working Paper Archive 814577000000000178, David K. Levine.
  12. John Duggan, 2011. "Noisy Stochastic Games," RCER Working Papers, University of Rochester - Center for Economic Research (RCER) 562, University of Rochester - Center for Economic Research (RCER).
  13. Fedor Iskhakov & John Rust & Bertel Schjerning, 2013. "The Dynamics of Bertrand Price Competition with Cost-Reducing Investments," Discussion Papers, University of Copenhagen. Department of Economics 13-05, University of Copenhagen. Department of Economics.
  14. Hannu Salonen & Hannu Vartiainen, 2011. "On the Existence of Markov Perfect Equilibria in Perfect Information Games," Discussion Papers, Aboa Centre for Economics 68, Aboa Centre for Economics.
  15. Doraszelski, Ulrich & Escobar, Juan F., 2012. "Restricted feedback in long term relationships," Journal of Economic Theory, Elsevier, Elsevier, vol. 147(1), pages 142-161.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:red:sed008:453. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christian Zimmermann).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.