English, Article edition: SOLUTION MECHANISMS FOR COOPERATIVE STOCHASTIC DIFFERENTIAL GAMES DAVID W. K. YEUNG

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Physical Description
  • article
Language
  • English

Edition details

Title
  • SOLUTION MECHANISMS FOR COOPERATIVE STOCHASTIC DIFFERENTIAL GAMES
Author
  • DAVID W. K. YEUNG
Physical Description
  • article
Notes
  • Cooperative stochastic differential games constitute a highly complex form of decision making under uncertainty. In particular, interactions between strategic behaviors, dynamic evolution, stochastic elements and solution agreement have to be considered simultaneously. This complexity leads to great difficulties in the derivation of dynamically stable solutions. Despite urgent calls for cooperation in the global economy, the lack of formal analyses has precluded rigorous analysis of this problem. In this paper, mechanisms for the derivation of dynamically stable solutions to cooperative stochastic differential games are presented. Games with transferable payoffs and those with nontransferable payoffs are considered. Numerical illustrations are also provided.
  • Cooperative solution, stochastic differential games, subgame consistency
  • RePEc:wsi:igtrxx:v:08:y:2006:i:02:p:309-326
Language
  • English
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