New PDF release: Advances in Dynamic Games: Applications to Economics,

By Alain Haurie, Shigeo Muto, Leon A. Petrosjan, T. E. S. Raghavan

ISBN-10: 0817645004

ISBN-13: 9780817645007

ISBN-10: 0817645012

ISBN-13: 9780817645014

This ebook, an outgrowth of the tenth overseas Symposium on Dynamic video games, offers present advancements of the speculation of dynamic video games and its purposes. The textual content makes use of dynamic online game types to technique and remedy difficulties concerning pursuit-evasion, advertising, finance, weather and environmental economics, source exploitation, in addition to auditing and tax evasions. It comprises chapters on cooperative video games, that are more and more drawing dynamic techniques to their classical options.

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Additional info for Advances in Dynamic Games: Applications to Economics, Management Science, Engineering, and Environmental Management (Annals of the International Society of Dynamic Games)

Sample text

3 It follows from this fixedpoint property that the map (λ, ε) → vλε (s) is semi-algebraic. One can relate vλε to the sup inf of some non-standard λ-discounted game. Indeed, define the (ε, λ)-game to be a λ-discounted game, in which the stage payoff is rλε . The (ε, λ)-game differs from standard stochastic games in several respects. At each stage, the players choose mixed moves in ∆(A) and ∆(B) (and not actions in A and B). In addition, the stage payoff function depends on the discount factor being used.

43, 86–110. , Solan E. , The maxmin value of stochastic games with imperfect monitoring, Internat. J. , 32, 133-150, 2003. [24] Rosenberg D. , The maxmin of recursive games with incomplete information on one side, Math. Oper. , 25, 23–35, 2000. [25] Rubinstein A. , Repeated insurance contracts and moral hazard, J. Econ. , 30, 74–97, 1983. , Stochastic games, Proc. Nat. Acad. Sci. , 39, 1095– 1100, 1953. , Big Match with lack of information on one side (Part 1), Internat. J. , 13, 201–255, 1984.

Namely, let Wc (t) = y : V (t, y) c be a time section at the instant t of the level set Wc = (t, y) : V (t, y) c of the value function V . In the paper, it is shown that the relation (3) with an additional condition Wc1 (t) = ∅, t ∈ [t0 , T ], gives ∗ W (t) , Wc2 (t) = Wc1 (t) + Wc2 (t) − c1 t ∈ [t0 , T ]. (4) The main result can be reformulated in the following way. 1. If the payoff function of the game (2) is such that any of its smaller level sets completely sweeps any larger one, then the time sections of level sets of the value function at any fixed time instant t from the game interval have the same property.

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Advances in Dynamic Games: Applications to Economics, Management Science, Engineering, and Environmental Management (Annals of the International Society of Dynamic Games) by Alain Haurie, Shigeo Muto, Leon A. Petrosjan, T. E. S. Raghavan


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