English, Article edition: A NOTE ON REPEATED GAMES WITH VANISHING ACTIONS REINOUD JOOSTEN

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Bookmark: http://trove.nla.gov.au/version/144599
Physical Description
  • article
Language
  • English

Edition details

Title
  • A NOTE ON REPEATED GAMES WITH VANISHING ACTIONS
Author
  • REINOUD JOOSTEN
Physical Description
  • article
Notes
  • A two-person general-sum repeated game with vanishing actions is an infinitely repeated game where the players face the following restrictions. Each action must be used by player k â {1,2} at least once in every rk â â consecutive stages, otherwise the action vanishes for the remaining play. We assume that the players wish to maximize their limiting average rewards over the entire time-horizon.A strategy-pair is jointly convergent if for each action pair a number exists to which the relative frequency with which this action pair is chosen, converges with probability one. A pair of feasible rewards is called individually rational if each player receives at least the threat-point reward, i.e., the amount which he can guarantee himself regardless of what the opponent does given r1, r2 and the actions available in the long run. In a repeated game with vanishing actions, there may exist multiple threat points which are endogenous to the play.We prove that all individually-rational jointly-convergent pure-strategy rewards can be supported by an equilibrium. Furthermore, each convex combination of individually-rational jointly-convergent pure-strategy rewards, can be supported by an equilibrium for m à n-games provided r1 > m ⥠2, r2 > n ⥠2.
  • Stochastic games, vanishing actions, limiting Average rewards, endogenous threats
  • RePEc:wsi:igtrxx:v:07:y:2005:i:01:p:107-115
Language
  • English
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