Sequential Correlated Equilibria in Stopping Games

Yuval Heller

Operations Research, 2012, vol. 60, issue 1, 209-224

Abstract: In many situations, such as trade in stock exchanges, agents have many opportunities to act within a short interval of time. The agents in such situations can often coordinate their actions in advance, but coordination during the game consumes too much time. An equilibrium in such situations has to be sequential in order to handle mistakes made by players. In this paper, we present a new solution concept for infinite-horizon dynamic games, which is appropriate for such situations: a sequential normal-form correlated approximate equilibrium. Under additional assumptions, we show that every such game admits this kind of equilibrium.

Keywords: games/group decisions; stochastic; financial institutions; trading (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:60:y:2012:i:1:p:209-224

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