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A Computational Approach to Proving Uniqueness in Dynamic Games

Author

Listed:
  • Karl Schmedders
  • Ken Judd

    (Hoover Institute Hoover Institution)

Abstract

Dynamic games are used to analyze dynamic strategic interactions. While existence of equilibrium can often be proved by conventional methods, uniqueness is much more difficult to establish. If a game reduces to solving a system of polynomial equations, then one could use algorithms for finding all solutions to such systems to establish if equilibrium was unique. We study a common type of game where equilibrium can be analyzed as a sequence of small games and apply an all solutions algorithm to each such game

Suggested Citation

  • Karl Schmedders & Ken Judd, 2005. "A Computational Approach to Proving Uniqueness in Dynamic Games," Computing in Economics and Finance 2005 412, Society for Computational Economics.
    • Handle: RePEc:sce:scecf5:412
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    Citations

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    Cited by:

    1. David Besanko & Ulrich Doraszelski & Yaroslav Kryukov & Mark Satterthwaite, 2008. "Learning-by-Doing, Organizational Forgetting, and Industry Dynamics," GSIA Working Papers 2009-E22, Carnegie Mellon University, Tepper School of Business.
    2. Margaret Aksoy-Pierson & Gad Allon & Awi Federgruen, 2013. "Price Competition Under Mixed Multinomial Logit Demand Functions," Management Science, INFORMS, vol. 59(8), pages 1817-1835, August.
    3. Doraszelski, Ulrich & Kryukov, Yaroslav & Borkovsky, Ron N., 2008. "A User's Guide to Solving Dynamic Stochastic Games Using the Homotopy Method," CEPR Discussion Papers 6733, C.E.P.R. Discussion Papers.
    4. David Besanko & Ulrich Doraszelski, 2005. "Learning-by-Doing, Organizational Forgetting, and Industry Dynanmics," Computing in Economics and Finance 2005 236, Society for Computational Economics.
    5. David Besanko & Ulrich Doraszelski & Yaroslav Kryukov & Mark Satterthwaite, 2007. "Learning-by-Doing, Organizational Forgetting, and Industry Dynamics," Levine's Bibliography 321307000000000903, UCLA Department of Economics.
    6. Ron N. Borkovsky & Ulrich Doraszelski & Yaroslav Kryukov, "undated". "A User''s Guide to Solving Dynamic Stochastic Games Using the Homotopy Method," GSIA Working Papers 2009-E23, Carnegie Mellon University, Tepper School of Business.

    More about this item

    Keywords

    nash equilibrium; multivariate polynomials;

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques

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