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The Fictitious Payoff Function: Two Applications to Dynamic Games

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  • Margaret E. Slade

Abstract

The notion of a fictitious-payoff function is developed in the context of a dynamic model of oligopoly. It is shown that in a certain class of games, the oligopolistic market acts as if it were maximizing a single objective function--the fictitious-payoff function. The more complex problem of calculating multiplayer subgame-perfect equilibria is thus reduced to an ordinary optimization problem.

Suggested Citation

  • Margaret E. Slade, 1989. "The Fictitious Payoff Function: Two Applications to Dynamic Games," Annals of Economics and Statistics, GENES, issue 15-16, pages 193-216.
    • Handle: RePEc:adr:anecst:y:1989:i:15-16:p:193-216
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    File URL: http://www.jstor.org/stable/20075757
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    Cited by:

    1. Julio B. Clempner, 2018. "On Lyapunov Game Theory Equilibrium: Static and Dynamic Approaches," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 20(02), pages 1-14, June.

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