On Coincidence of Feedback Nash Equilibria and Stackelberg Equilibria in Economic Applications of Differential Games

Santiago Rubio

Journal of Optimization Theory and Applications, 2006, vol. 128, issue 1, No 10, 203-220

Abstract: Abstract The scope of the applicability of the feedback Stackelberg equilibrium concept in differential games is investigated. First, conditions for obtaining the coincidence between the stationary feedback Nash equilibrium and the stationary feedback Stackelberg equilibrium are given in terms of the instantaneous payoff functions of the players and the state equations of the game. Second, a class of differential games representing the underlying structure of a good number of economic applications of differential games is defined; for this class of differential games, it is shown that the stationary feedback Stackelberg equilibrium coincides with the stationary feedback Nash equilibrium. The conclusion is that the feedback Stackelberg solution is generally not useful to investigate leadership in the framework of a differential game, at least for a good number of economic applications

Keywords: Differential games; stationary feedback Nash equilibrium; stationary feedback Stackelberg equilibrium (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (14)

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DOI: 10.1007/s10957-005-7565-y

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