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Some results on the Markov equilibria of a class of homogeneous differential games

  • Van Long, Ngo
  • Shimomura, Koji

We consider the class of differential games with transition dynamics and constraints that are homogeneous of degree one. We show that if the integrand of the objective function is homogeneous of degree , then best replies to linear homogeneous Markov strategies are linear homogeneous, and the value function is homogeneous of degree . A parallel result holds when one applies logarithmic transformation to the integrand. Examples are provided. Nous étudions la classe de jeux différentiels dont l'équation de transition et les contraintes sont caractérisées par l'homogénéité du premier degré. Nous prouvons que si la fonction d'objectif possède l'homogénéité du degré , alors la meilleure réponse aux stratégies markoviennes qui possèdent l'homogénéité du premier degré doit avoir la même propriété, et la fonction de valeur est caractérisée par l'homogénéité du degré . On obtient un résultat similaire dans le cas d'une transformation logarithmique de la fonction d'objectif. L'article contient trois exemples.

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File URL: http://www.sciencedirect.com/science/article/B6V8F-3SWSJJT-10/2/259440f51503e31bc4a3c665326dc24f
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Article provided by Elsevier in its journal Journal of Economic Behavior & Organization.

Volume (Year): 33 (1998)
Issue (Month): 3-4 (January)
Pages: 557-566

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Handle: RePEc:eee:jeborg:v:33:y:1998:i:3-4:p:557-566
Contact details of provider: Web page: http://www.elsevier.com/locate/jebo

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  1. repec:cup:cbooks:9780521331586 is not listed on IDEAS
  2. Fischer, Ronald D. & Mirman, Leonard J., 1992. "Strategic dynamic interaction : Fish wars," Journal of Economic Dynamics and Control, Elsevier, vol. 16(2), pages 267-287, April.
  3. repec:cup:cbooks:9780521337465 is not listed on IDEAS
  4. Fischer, Ronald D. & Mirman, Leonard J., 1996. "The Compleat Fish Wars: Biological and Dynamic Interactions," Journal of Environmental Economics and Management, Elsevier, vol. 30(1), pages 34-42, January.
  5. Drew Fudenberg & Jean Tirole, 1991. "Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061414, June.
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