Lattice Methods in Computation of Sequential Markov Equilibrium in Dynamic Games
This paper uses lattice programming methods along with the extension of Tarski's fixed point theorem due to Veinott (1992) and Zhou (1994) to establish sufficient conditions for existence of sequential symmetric Markov equilibrium in a large class of dynamic games. Our method is constructive and we provide specific algorithms for computing equilibrium. These results are applied to the classic fishwar game in the context of a finite horizon. JEL Classification: C62, C63, C73, D90
|Date of creation:|
|Contact details of provider:|| Postal: Box 873806, Tempe, AZ 85287-3806|
Phone: (480) 965-5514
Fax: (480) 965-0748
Web page: http://repec.wpcarey.asu.edu/RePEc/asu/
More information through EDIRC
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.:
- Curtat, Laurent O., 1996. "Markov Equilibria of Stochastic Games with Complementarities," Games and Economic Behavior, Elsevier, vol. 17(2), pages 177-199, December.
- Vives, X., 1988.
"Nash Equilibrium With Strategic Complementarities,"
UFAE and IAE Working Papers
107-88, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Datta, Manjira & Mirman, Leonard J, 2000.
"Dynamic Externalities and Policy Coordination,"
Review of International Economics,
Wiley Blackwell, vol. 8(1), pages 44-59, February.
- Leonard J. Mirman & Manjira Datta, 1996. "Dynamic Externalities and Policy Coordination," CRIEFF Discussion Papers 9608, Centre for Research into Industry, Enterprise, Finance and the Firm.
- Manjira Datta & Leonard J. Mirman, "undated". "Dynamic Externalities and Policy Coordination," Working Papers 97/11, Arizona State University, Department of Economics.
- Manjira Datta & Leonard Mirman, "undated". "Dynamic Externalities and Policy Coordination," Working Papers 2132841, Department of Economics, W. P. Carey School of Business, Arizona State University.
- Milgrom, P. & Shannon, C., 1991.
"Monotone Comparative Statics,"
11, Stanford - Institute for Thoretical Economics.
- Zhou Lin, 1994. "The Set of Nash Equilibria of a Supermodular Game Is a Complete Lattice," Games and Economic Behavior, Elsevier, vol. 7(2), pages 295-300, September.
- Maskin, Eric & Tirole, Jean, 2001.
"Markov Perfect Equilibrium: I. Observable Actions,"
Journal of Economic Theory,
Elsevier, vol. 100(2), pages 191-219, October.
- Eric Maskin & Jean Tirole, 1997. "Markov Perfect Equilibrium, I: Observable Actions," Harvard Institute of Economic Research Working Papers 1799, Harvard - Institute of Economic Research.
- DATTA, Manjira, 1994.
"Externalities and Price Dynamics,"
CORE Discussion Papers
1994006, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Sundaram, Rangarajan K., 1989. "Perfect equilibrium in non-randomized strategies in a class of symmetric dynamic games," Journal of Economic Theory, Elsevier, vol. 47(1), pages 153-177, February.
- Manjira Datta & Leonard Mirman, "undated".
"Externalities, Market Power, and Resource Extraction,"
2132842, Department of Economics, W. P. Carey School of Business, Arizona State University.
- Datta, Manjira & Mirman, Leonard J., 1999. "Externalities, Market Power, and Resource Extraction," Journal of Environmental Economics and Management, Elsevier, vol. 37(3), pages 233-255, May.
- Manjira Datta & Leonard J. Mirman, "undated". "Externalities, Market Power, and Resource Extraction," Working Papers 97/12, Arizona State University, Department of Economics.
- Santos, Manuel S, 1991. "Smoothness of the Policy Function in Discrete Time Economic Models," Econometrica, Econometric Society, vol. 59(5), pages 1365-1382, September.
When requesting a correction, please mention this item's handle: RePEc:asu:wpaper:2179545. 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: (Steve Salik)
If references are entirely missing, you can add them using this form.