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Asynchronous games with transfers: Uniqueness and optimality

机译:带有转移的异步游戏:唯一性和最优性

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This paper studies asynchronous dynamic games with one period ahead transfers. There is a unique equilibrium that coincides with the Utilitarian Pareto Optimum whenever the horizon is finite. With an infinite horizon, the same result holds when action history dependence is allowed but not history dependence on transfers. The result is restored with a finite but costly memory of transfers as well as with continuous transfer strategies. Multiplicity can arise from strategies that have an infinite memory of transfers. Finally, we provide a full characterization of equilibrium payoffs when players become infinitely patient. (C) 2019 Published by Elsevier Inc.
机译:本文研究了具有提前期转移的异步动态游戏。只要地平线是有限的,就有一个与功利主义帕累托最优相吻合的独特平衡。在无限远的情况下,当允许动作历史依赖而不是历史依赖转移时,结果相同。通过有限但昂贵的传输记忆以及连续传输策略可以恢复结果。具有无限转移记忆的策略会产生多样性。最后,当玩家变得无限耐心时,我们提供了平衡收益的完整表征。 (C)2019由Elsevier Inc.发布

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