EconPapers    
Economics at your fingertips  
 

EQUILIBRIUM SELECTION IN STOCHASTIC GAMES

P. Jean-Jacques Herings and Ronald Peeters

International Game Theory Review (IGTR), 2003, vol. 05, issue 04, 307-326

Abstract: In this paper a selection theory for stochastic games is developed. The theory itself is based on the ideas of Harsanyi and Selten to select equilibria for games in standard form. We introduce several possible definitions for the stochastic tracing procedure, an extension of the linear tracing procedure to the class of stochastic games. We analyze the properties of these alternative definitions. We show that exactly one of the proposed extensions is consistent with the formulation of Harsanyi–Selten for games in standard form and captures stationarity.

Keywords: Game theory; Stochastic games; equilibrium selection; linear tracing procedure; correlated beliefs; JEL classification code: C72; C73 (search for similar items in EconPapers)
JEL-codes: B4 C0 C6 C7 D5 D7 M2 (search for similar items in EconPapers)
Date: 2003
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.worldscientific.com/doi/abs/10.1142/S0219198903001082
Access to full text is restricted to subscribers

Related works:
Working Paper: Equilibrium selection in stochastic games (2001) Downloads
Working Paper: Equilibrium Selection in Stochastic Games (2001) Downloads
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:wsi:igtrxx:v:05:y:2003:i:04:n:s0219198903001082

Ordering information: This journal article can be ordered from

DOI: 10.1142/S0219198903001082

Access Statistics for this article

International Game Theory Review (IGTR) is currently edited by David W K Yeung

More articles in International Game Theory Review (IGTR) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().

 
Page updated 2025-05-16
Handle: RePEc:wsi:igtrxx:v:05:y:2003:i:04:n:s0219198903001082