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Stationary equilibrium in stochastic dynamic models: Semi-Markov strategies
Economic Theory Bulletin ( IF 0.4 ) Pub Date : 2021-04-10 , DOI: 10.1007/s40505-021-00202-2
Subir K. Chakrabarti

We show here that a stationary equilibrium in Semi-Markov strategies exists for stochastic games under just the condition of norm continuity of the transition probability that are absolutely continuous with respect to a fixed measure on the state space. We also show that the result can be extended to the case of generalized games in which the feasible action correspondences depend on the action of the other players. We show that the generalization allows one to directly apply the results to general dynamic models.



中文翻译:

随机动力学模型中的平稳平衡:半马尔可夫策略

我们在这里表明,在随机概率的范式连续性的条件下,对于随机博弈而言,存在于半马尔可夫策略中的平稳均衡,这相对于状态空间上的固定测度是绝对连续的。我们还表明,该结果可以扩展到广义游戏的情况,在该情况下,可行的动作对应关系取决于其他玩家的动作。我们表明,泛化使人们可以将结果直接应用于一般动态模型。

更新日期:2021-04-11
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