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Extensive From Games in Continuous Time: Pure Strategies


  • Simon, Leo K.
  • Stinchcombe, Maxwell B.


A new framework for games in continuous time is proposed. The continuous-time model conforms as closely as possible to the conventional discrete-time framework. Indeed, continuous time is viewed as "discrete time, but with a grid that is infinitely fine." The paper presents several examples illustrating the difficulties that arise in continuous-time game theory. Theorems relate the equilibria of continuous time games to the equilibria of approximating discrete time games. A variety of industrial organization applications are studied, yielding sharp predictions. Applications include continuously repeated games, preemption models, and patent races. Copyright 1989 by The Econometric Society.
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  • Simon, Leo K. & Stinchcombe, Maxwell B., 1987. "Extensive From Games in Continuous Time: Pure Strategies," Department of Economics, Working Paper Series qt03x115sh, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  • Handle: RePEc:cdl:econwp:qt03x115sh

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    References listed on IDEAS

    1. Field, Alexander J., 1984. "A New Interpretation of the Onset of the Great Depression," The Journal of Economic History, Cambridge University Press, vol. 44(02), pages 489-498, June.
    2. Eichengreen, Barry & Sachs, Jeffrey, 1985. "Exchange Rates and Economic Recovery in the 1930s," The Journal of Economic History, Cambridge University Press, vol. 45(04), pages 925-946, December.
    3. Meltzer, Allan H., 1976. "Monetary and other explanations of the start of the great depression," Journal of Monetary Economics, Elsevier, vol. 2(4), pages 455-471, November.
    4. Milton Friedman & Anna J. Schwartz, 1963. "A Monetary History of the United States, 1867–1960," NBER Books, National Bureau of Economic Research, Inc, number frie63-1, January.
    5. Bernanke, Ben S, 1983. "Nonmonetary Effects of the Financial Crisis in Propagation of the Great Depression," American Economic Review, American Economic Association, vol. 73(3), pages 257-276, June.
    6. Hamilton, James D., 1987. "Monetary factors in the great depression," Journal of Monetary Economics, Elsevier, vol. 19(2), pages 145-169, March.
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