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Stochastic games in economics and related fields: an overview

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  • AMIR, Rabah

Abstract

This survey provides an extensive account of research in economics based on the stochastic games paradigm. Its area-by-area coverage is in the form of an overview, and includes applications in resource economics, industrial organization, macroeconomics, market games, experimental and empirical economics. For methodologically defined frameworks, the coverage is somewhat more detailed (to the extent that the material is not covered elsewhere in this volume), and includes the open-loop concept, the linear-quadratic model, myopic equilibrium, games of perfect information, and stochastic games with a continuum of players.
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  • AMIR, Rabah, 2003. "Stochastic games in economics and related fields: an overview," LIDAM Reprints CORE 1664, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvrp:1664
    DOI: 10.1007/978-94-010-0189-2_30
    Note: In : A. Neyman and S. Sorin (eds.), Stochastic Games and Applications. Dordrecht, Kluwer Academic Publishers, 455-470, 2003.
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    Cited by:

    1. Wei He, 2022. "Discontinuous stochastic games," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 73(4), pages 827-858, June.
    2. Boucekkine, Raouf & Fabbri, Giorgio & Federico, Salvatore & Gozzi, Fausto, 2022. "A dynamic theory of spatial externalities," Games and Economic Behavior, Elsevier, vol. 132(C), pages 133-165.
    3. Yehuda (John) Levy, 2012. "A Discounted Stochastic Game with No Stationary Nash Equilibrium," Discussion Paper Series dp596r, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem, revised May 2012.
    4. Kimmo Berg, 2016. "Elementary Subpaths in Discounted Stochastic Games," Dynamic Games and Applications, Springer, vol. 6(3), pages 304-323, September.
    5. Mandel, Antoine & Venel, Xavier, 2020. "Dynamic competition over social networks," European Journal of Operational Research, Elsevier, vol. 280(2), pages 597-608.
    6. Antoine Mandel & Xavier Venel, 2017. "Dynamic competition over social networks Dynamic competition over social networks," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01524453, HAL.
    7. Reinoud Joosten, 2007. "Patience, Fish Wars, rarity value & Allee effects," Papers on Economics and Evolution 2007-24, Philipps University Marburg, Department of Geography.
    8. Piotr Szajowski, 2006. "Constructions of Nash Equilibria in Stochastic Games of Resource Extraction with Additive Transition Structure," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 63(2), pages 239-260, May.
    9. He, Wei & Sun, Yeneng, 2017. "Stationary Markov perfect equilibria in discounted stochastic games," Journal of Economic Theory, Elsevier, vol. 169(C), pages 35-61.
    10. Elena M. Parilina & Alessandro Tampieri, 2018. "Stability and cooperative solution in stochastic games," Theory and Decision, Springer, vol. 84(4), pages 601-625, June.
    11. Gianluigi Vernasca, 2003. "Dynamic Price Competition with Price Adjustment Costs and Product Differentiation," Working Papers 2003.120, Fondazione Eni Enrico Mattei.
    12. Vernasca, Gianluigi, 2003. "Dynamic Price Competition With Price Adjustment Costs And Product Differentiation," The Warwick Economics Research Paper Series (TWERPS) 681, University of Warwick, Department of Economics.
    13. repec:pri:metric:wp053_2013_abreu_pearce_implementing-the-nash-program-in-stochastic-games is not listed on IDEAS
    14. Li, Peixuan & Dang, Chuangyin & Herings, P.J.J., 2023. "Computing Perfect Stationary Equilibria in Stochastic Games," Other publications TiSEM 5b68f5d7-3209-4a1b-924c-6, Tilburg University, School of Economics and Management.
    15. Reinoud Joosten & Robin Meijboom, 2010. "Stochastic games with endogenous transitions," Papers on Economics and Evolution 2010-24, Philipps University Marburg, Department of Geography.
    16. R. Joosten, 2005. "A small Fish War: an example with frequency-dependent stage payoffs," Papers on Economics and Evolution 2005-06, Philipps University Marburg, Department of Geography.
    17. Amir, Rabah & Machowska, Dominika & Troege, Michael, 2021. "Advertising patterns in a dynamic oligopolistic growing market with decay," Journal of Economic Dynamics and Control, Elsevier, vol. 131(C).
    18. Charles Figuières, 2009. "Markov interactions in a class of dynamic games," Theory and Decision, Springer, vol. 66(1), pages 39-68, January.
    19. Antoine Mandel & Xavier Venel, 2017. "Dynamic competition over social networks Dynamic competition over social networks," Post-Print halshs-01524453, HAL.
    20. İzgi, Burhaneddin & Özkaya, Murat & Üre, Nazım Kemal & Perc, Matjaž, 2024. "Matrix norm based hybrid Shapley and iterative methods for the solution of stochastic matrix games," Applied Mathematics and Computation, Elsevier, vol. 473(C).
    21. Reinoud Joosten, 2016. "Strong and Weak Rarity Value: Resource Games with Complex Price–Scarcity Relationships," Dynamic Games and Applications, Springer, vol. 6(1), pages 97-111, March.

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    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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