Stochastic Games, Oligopoly Theory and Competitive Resource Allocation

Martin Shubik and Matthew J. Sobel

No 525, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: We define discrete time sequential games which are multiperson Markov decision processes. The extant theory is sketched and compared with our assessment of research needs in dynamic models of oligopoly and other competitive resource allocation problems. A special class of economic survival games is noted.

Pages: 18 pages
Date: 1979
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Published in Pan-Tai Liu (ed.), Dynamic Optimization and Mathematical Economics, Plenum Publishing, 1980, pp. 89-104

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