A Note on Discontinuous Value Functions and Strategies in Affine-Quadratic Differential Games
Henrik Jensen () and
Ben Lockwood ()
Discussion Papers from University of Exeter, Department of Economics
We present an economic example of an affine-quadratic differential game where in Markov-perfect Nash equilibrium, the value function of a player is discontinuous in the model's parameters, implying that the strategy of that player is also discontinuous, even though the data of the game (state equation and pay-offs) are continuous in the parameters. Sufficient conditions ruling out such discontinuities are presented for the general scalar case.
Keywords: GAME; THEORY (search for similar items in EconPapers)
JEL-codes: C73 (search for similar items in EconPapers)
Pages: 8 pages
References: Add references at CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Journal Article: A note on discontinuous value functions and strategies in affine-quadratic differential games (1998)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:exe:wpaper:9514
Access Statistics for this paper
More papers in Discussion Papers from University of Exeter, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Jingnan (Cecilia) Chen ().