S-adapted Equilibria in Games Played Over Event Trees with Coupled Constraints

Elnaz Kanani Kuchesfehani () and Georges Zaccour
Additional contact information
Elnaz Kanani Kuchesfehani: GERAD, HEC Montréal

Journal of Optimization Theory and Applications, 2015, vol. 166, issue 2, No 16, 644-658

Abstract: Abstract This article deals with the general theory of games played over uncontrolled event trees, i.e., games where the transition from one node to another is nature’s decision and cannot be influenced by the players’ actions. The solution concept for this class of games was introduced under the name of S-adapted equilibrium, where S stands for sample of realizations of the random process. In this paper, it is assumed that the players also face a coupled constraint at each node, and therefore the relevant solution concept is the normalized equilibrium à la Rosen. Existence and uniqueness conditions for this equilibrium are provided, as well as a stochastic-control formulation of the game and a maximum principle. A simple illustrative example in environmental economics is presented.

Keywords: Dynamic games; Event tree; Normalized equilibrium; Coupled constraint; Pollution control (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s10957-014-0623-6 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:joptap:v:166:y:2015:i:2:d:10.1007_s10957-014-0623-6

Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/10957/PS2

DOI: 10.1007/s10957-014-0623-6

Access Statistics for this article

Journal of Optimization Theory and Applications is currently edited by Franco Giannessi and David G. Hull

More articles in Journal of Optimization Theory and Applications from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().