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Markov Perfect Equilibria in Stochastic Revision Games

Author

Listed:
  • Stefano Lovo

    (GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique)

  • Tristan Tomala

    (GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique)

Abstract

We introduce the model of Stochastic Revision Games where a finite set of players control a state variable and receive payoffs as a function of the state at a terminal deadline. There is a Poisson clock which dictates when players are called to choose of revise their actions. This paper studies the existence of Markov perfect equilibria in those games. We give an existence proof assuming some form of correlation.

Suggested Citation

  • Stefano Lovo & Tristan Tomala, 2015. "Markov Perfect Equilibria in Stochastic Revision Games," Working Papers hal-02002783, HAL.
    • Handle: RePEc:hal:wpaper:hal-02002783
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    Cited by:

    1. Sofia Moroni, 2016. "Sniping in Proxy Auctions with Deadlines," Working Paper 5875, Department of Economics, University of Pittsburgh.
    2. Sofia Moroni, 2020. "Existence of Trembling hand perfect and sequential equilibrium in Stochastic Games," Working Paper 6837, Department of Economics, University of Pittsburgh.
    3. Ryota Iijima & Akitada Kasahara, 2016. "Gradual Adjustment and Equilibrium Uniqueness under Noisy Monitoring," ISER Discussion Paper 0965, Institute of Social and Economic Research, Osaka University.
    4. Zhuohan Wang & Dong Hao, 2022. "Characterizing Agent Behavior in Revision Games with Uncertain Deadline," Games, MDPI, vol. 13(6), pages 1-13, November.
    5. Yevgeny Tsodikovich, 2021. "The worst-case payoff in games with stochastic revision opportunities," Annals of Operations Research, Springer, vol. 300(1), pages 205-224, May.
    6. Sofia Moroni, 2019. "Existence of trembling hand perfect and sequential equilibrium in games with stochastic timing of moves," Working Paper 6757, Department of Economics, University of Pittsburgh.
    7. Dong Hao & Qi Shi & Jinyan Su & Bo An, 2021. "Cooperation, Retaliation and Forgiveness in Revision Games," Papers 2112.02271, arXiv.org, revised Oct 2022.
    8. Yuichiro Kamada & Michihiro Kandori, 2020. "Revision Games," Econometrica, Econometric Society, vol. 88(4), pages 1599-1630, July.

    More about this item

    JEL classification:

    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games

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