IDEAS home Printed from https://ideas.repec.org/a/spr/dyngam/v11y2021i2d10.1007_s13235-020-00361-0.html
   My bibliography  Save this article

An Update on Continuous-Time Stochastic Games of Fixed Duration

Author

Listed:
  • Yehuda John Levy

    (University of Glasgow)

Abstract

This paper shows that continuous-time stochastic games of fixed duration need not possess equilibria in Markov strategies. The example requires payoffs and transitions to depend on time in a continuous but irregular (almost nowhere almost differentiable) way. This example offers a correction to the erroneous construction presented previously in Levy (Dyn Games Appl 3(2):279–312, 2013. https://doi.org/10.1007/s13235-012-0067-2 ).

Suggested Citation

  • Yehuda John Levy, 2021. "An Update on Continuous-Time Stochastic Games of Fixed Duration," Dynamic Games and Applications, Springer, vol. 11(2), pages 418-432, June.
    • Handle: RePEc:spr:dyngam:v:11:y:2021:i:2:d:10.1007_s13235-020-00361-0
    DOI: 10.1007/s13235-020-00361-0
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s13235-020-00361-0
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s13235-020-00361-0?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Yehuda Levy, 2013. "Discounted Stochastic Games With No Stationary Nash Equilibrium: Two Examples," Econometrica, Econometric Society, vol. 81(5), pages 1973-2007, September.
    2. Yehuda Levy, 2013. "Continuous-Time Stochastic Games of Fixed Duration," Dynamic Games and Applications, Springer, vol. 3(2), pages 279-312, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. He, Wei & Sun, Yeneng, 2013. "Stationary Markov Perfect Equilibria in Discounted Stochastic Games," MPRA Paper 51274, University Library of Munich, Germany.
    2. Maria Arvaniti & Chandra K. Krishnamurthy & Anne-Sophie Crépin, 2019. "Time-consistent resource management with regime shifts," CER-ETH Economics working paper series 19/329, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    3. McLennan, Andrew, 2014. "Fixed points of parameterized perturbations," Journal of Mathematical Economics, Elsevier, vol. 55(C), pages 186-189.
    4. Neyman, Abraham, 2017. "Continuous-time stochastic games," Games and Economic Behavior, Elsevier, vol. 104(C), pages 92-130.
    5. Kimmo Berg, 2016. "Elementary Subpaths in Discounted Stochastic Games," Dynamic Games and Applications, Springer, vol. 6(3), pages 304-323, September.
    6. Hülya Eraslan & Kirill S. Evdokimov & Jan Zápal, 2022. "Dynamic Legislative Bargaining," Springer Books, in: Emin Karagözoğlu & Kyle B. Hyndman (ed.), Bargaining, chapter 0, pages 151-175, Springer.
    7. Yehuda Levy, 2015. "Existence of SPE in Discounted Stochastic Games; Revisited and Simplified," Economics Series Working Papers 739, University of Oxford, Department of Economics.
    8. Yurii Averboukh, 2017. "Extremal Shift Rule for Continuous-Time Zero-Sum Markov Games," Dynamic Games and Applications, Springer, vol. 7(1), pages 1-20, March.
    9. Barelli, Paulo & Duggan, John, 2014. "A note on semi-Markov perfect equilibria in discounted stochastic games," Journal of Economic Theory, Elsevier, vol. 151(C), pages 596-604.
    10. Abraham Neyman, 2013. "Stochastic Games with Short-Stage Duration," Dynamic Games and Applications, Springer, vol. 3(2), pages 236-278, June.
    11. Leslie, David S. & Perkins, Steven & Xu, Zibo, 2020. "Best-response dynamics in zero-sum stochastic games," Journal of Economic Theory, Elsevier, vol. 189(C).
    12. Wei He & Yeneng Sun, 2013. "Stationary Markov Perfect Equilibria in Discounted Stochastic Games," Papers 1311.1562, arXiv.org, revised Jan 2017.
    13. Vivek S. Borkar, 2022. "Learning to cooperate in agent-based control of queueing networks," Queueing Systems: Theory and Applications, Springer, vol. 100(3), pages 513-515, April.
    14. Xavier Venel, 2015. "Commutative Stochastic Games," Mathematics of Operations Research, INFORMS, vol. 40(2), pages 403-428, February.
    15. Subir K. Chakrabarti, 2021. "Stationary equilibrium in stochastic dynamic models: Semi-Markov strategies," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 9(2), pages 177-194, October.
    16. He, Wei & Sun, Yeneng, 2017. "Stationary Markov perfect equilibria in discounted stochastic games," Journal of Economic Theory, Elsevier, vol. 169(C), pages 35-61.
    17. Hellman, Ziv, 2014. "A game with no Bayesian approximate equilibria," Journal of Economic Theory, Elsevier, vol. 153(C), pages 138-151.
    18. Jing Fu & Frank Page & Jean-Pierre Zigrand, 2023. "Correction to: Layered Networks, Equilibrium Dynamics, and Stable Coalitions," Dynamic Games and Applications, Springer, vol. 13(2), pages 669-704, June.
    19. Page, Frank, 2016. "On K-Class discounted stochastic games," LSE Research Online Documents on Economics 67809, London School of Economics and Political Science, LSE Library.
    20. Qingda Wei & Xian Chen, 2022. "Discounted stochastic games for continuous-time jump processes with an uncountable state space," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 95(2), pages 187-218, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:dyngam:v:11:y:2021:i:2:d:10.1007_s13235-020-00361-0. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.