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Equilibrium Selection in Stochastic Games

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Author Info

  • P.Jean-Jacques Herings

    (University of Maastricht)

  • Ronald J.A.P. Peeters

    (University of Maastricht)

Abstract

In 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.

(This abstract was borrowed from another version of this item.)

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File URL: http://128.118.178.162/eps/game/papers/0205/0205002.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Game Theory and Information with number 0205002.

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Length: 22 pages
Date of creation: 12 Nov 2001
Date of revision:
Handle: RePEc:wpa:wuwpga:0205002

Note: Type of Document - pdf.format; pages: 22 ; figures: i
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Web page: http://128.118.178.162

Related research

Keywords: Game theory; stochastic games; Equilibrium selection; Linear tracing procedure; Correlated beliefs;

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Cited by:
  1. 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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