Durable-Strategies Dynamic Games: Theory, Solution Techniques and Applications
Durable-Strategies Dynamic Games: Theory, Solution Techniques and Applications
English | 2022 | ISBN: 3030927415 | 311 Pages | PDF | 4 MB
English | 2022 | ISBN: 3030927415 | 311 Pages | PDF | 4 MB
Durable strategies that have prolonged effects are prevalent in real-world situations. Revenue-generating investments, toxic waste disposal, long-lived goods, regulatory measures, coalition agreements, diffusion of knowledge, advertisement and investments to accumulate physical capital are concrete and common examples of durable strategies. This book provides an augmentation of dynamic game theory and advances a new game paradigm with durable strategies in decision-making schemes. It covers theories, solution techniques, and the applications of a general class of dynamic games with multiple durable strategies. Non-cooperative equilibria and cooperative solutions are derived, along with advanced topics including random termination, asynchronous game horizons, and stochastic analysis. The techniques presented here will enable readers to solve numerous practical dynamic interactive problems with durable strategies.