Infinite Horizon Concave Games with Coupled Constraints

Dean Carlson (), Alain Haurie and Georges Zaccour ()
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Dean Carlson: American Mathematical Society, Mathematical Reviews
Alain Haurie: ORDECSYS and University of Geneva
Georges Zaccour: GERAD, HEC Montréal, Department of Decision Sciences

Chapter 3 in Handbook of Dynamic Game Theory, 2018, pp 111-155 from Springer

Abstract: Abstract In this chapter, we expose a full theory for infinite-horizon concave differential games with coupled state-constraints. Concave games provide an attractive setting for many applications of differential games in economics, management science and engineering, and state coupling constraints happen to be quite natural features in many of these applications. After recalling the results of Rosen (1965) regarding existence and uniqueness of equilibrium of concave game with coupling contraints, we introduce the classical model of Ramsey and presents the Hamiltonian systems approach for its treatment. Next, we extend to a differential game setting the Hamiltonian systems approach and this formalism to the case of coupled state-constraints. Finally, we extend the theory to the case of discounted rewards.

Keywords: Concave Games; Coupling Constraints; Differential Games; Global Change Game; Hamilonian Systems; Oligopoly Game; Ramsey Model; Rosen Equilibrium (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-44374-4_34

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DOI: 10.1007/978-3-319-44374-4_34

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