Dynamic Games with Almost Perfect Information

Wei He and Yeneng Sun

MPRA Paper from University Library of Munich, Germany

Abstract: This paper aims to solve two fundamental problems on finite or infinite horizon dynamic games with perfect or almost perfect information. Under some mild conditions, we prove (1) the existence of subgame-perfect equilibria in general dynamic games with almost perfect information, and (2) the existence of pure-strategy subgame-perfect equilibria in perfect-information dynamic games with uncertainty. Our results go beyond previous works on continuous dynamic games in the sense that public randomization and the continuity requirement on the state variables are not needed. As an illustrative application, a dynamic stochastic oligopoly market with intertemporally dependent payoffs is considered.

Keywords: Dynamic games; almost perfect information; perfect information; subgame-perfect equilibirum (search for similar items in EconPapers)
JEL-codes: C62 C73 D0 (search for similar items in EconPapers)
Date: 2015
New Economics Papers: this item is included in nep-gth, nep-hpe, nep-mic and nep-ore
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:63345

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