On Durable-strategies Dynamic Game Theory
نویسندگان
چکیده
An empirically meaningful theory of dynamic games has to incorporate real-life phenomena. Durable strategies, which effects last for a period time, are prevalent in situations. Revenue generating investments, toxic waste disposal and purchase durable goods common examples strategies. This paper first provides review on durable-strategies game theory. A practically relevant advancement - random horizon yielding novel results is then presented. Dynamic optimization theorem, formulations HJB equations derived. illustrative example provided. The solution mechanism cooperative also discussed.
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ژورنال
عنوان ژورنال: Contributions to game theory and management
سال: 2022
ISSN: ['2310-2608']
DOI: https://doi.org/10.21638/11701/spbu31.2022.23