On a noncooperative stochastic game played by internally cooperating generations (Q848728): Difference between revisions

This paper is devoted to the study of intergenerational stochastic games played on a general state space. It is assumed that each generation consists of \(n\) players which are either cooperative or non-cooperative. In the former case, the author shows the existence of a stationary perfect equilibrium, which needs not be a pure equilibrium. The latter case, when the number of players in each generation equals one, provides a new contribution on perfect equilibria in a stochastic dynamic model with a so-called hyperbolic player, whose preferences change over time.