Equilibrium Selection in Stochastic Games
AbstractIn this paper a selection theory for stochastic games is developed. The theory itself is based on the ideas of Harsanyi and Selton to select equilibria for games in standard form. We introduce several possible definitions for the stochastic tracing procedure, an extension of the linear tracing procedure to the class of stochastic games. We analyze the properties of these alternative definitions. We show that exactly one of the proposed extensions ois consistent with the formulation of Harsanyi-Selten for games in standard form and captures stationarity.
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Bibliographic InfoPaper provided by EconWPA in its series Game Theory and Information with number 0205002.
Length: 22 pages
Date of creation: 12 Nov 2001
Date of revision:
Note: Type of Document - pdf.format; pages: 22 ; figures: i
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Game theory; stochastic games; Equilibrium selection; Linear tracing procedure; Correlated beliefs;
Other versions of this item:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
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- Murat Kurt & Mark S. Roberts & Andrew J. Schaefer & M. Utku Ünver, 2011. "Valuing Prearranged Paired Kidney Exchanges: A Stochastic Game Approach," Boston College Working Papers in Economics 785, Boston College Department of Economics, revised 14 Oct 2011.
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