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Markov Interactions In A Class Of Dynamic Games

机译:一类动态博弈中的马尔可夫相互作用

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This paper contributes to the understanding of economic strategic behaviors in inter-temporal settings. Comparing the MPE and the OLNE of a widely used class of differential games it is shown: (ⅰ) what qualifications on behaviors a markov (dynamic) information structure brings about compared with an open-loop (static) information structure, (ⅱ) what is the reason leading to intensified or reduced competition between the agents in the long run. It depends on whether agents' interactions are characterized by markov substitutability or markov complementarity, which can be seen as dynamic translations of the ideas of strategic substitutability and strategic complementarity (Bulow et al. 1985, Journal of Political Economy 93:488-511). In addition, an important practical contribution of the paper for modelers is to show that these results can be directly deduced from the payoff structure, with no need to compute equilibria first.
机译:本文有助于理解跨时期环境中的经济战略行为。比较广泛使用的一类差分游戏的MPE和OLNE,可以看到:(ⅰ)与开环(静态)信息结构相比,markov(动态)信息结构对行为的限定是什么?从长远来看,这是导致代理商之间竞争加剧或减少的原因。它取决于代理人的互动是以马尔可夫可替代性还是马尔可夫互补性为特征的,这可以看作是战略可替代性和战略互补性思想的动态翻译(Bulow等人,1985,《政治经济学杂志》 93:488-511)。此外,本文对建模人员的重要实际贡献是表明可以直接从收益结构推导这些结果,而无需先计算均衡。

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