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Dynamic Stochastic Games Of Resource Allocation Between Production And Consumption

Author

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  • VICTOR DOMANSKY

    (St. Petersburg Institute for Economics and Mathematics, Russian Academy of Sciences, Serpuhovskaya 38, 198013 St. Petersburg, Russia)

Abstract

Controlled by several agents, multistage processes of resource allocation between production and consumption with random production functions are considered as non-cooperative dynamic stochastic games. For these games, the Nash Equilibria are constructed satisfying the criteria of maximisation of some kind of "public utility". Both finite and infinite horizons of planning are examined.

Suggested Citation

  • Victor Domansky, 1999. "Dynamic Stochastic Games Of Resource Allocation Between Production And Consumption," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 1(02), pages 149-158.
    • Handle: RePEc:wsi:igtrxx:v:01:y:1999:i:02:n:s0219198999000104
    DOI: 10.1142/S0219198999000104
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    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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