Constructions of Nash equilibria in stochastic games of resource extraction with additive transition structure (Q883066): Difference between revisions
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Revision as of 00:07, 20 March 2024
scientific article
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|---|---|---|---|
| English | Constructions of Nash equilibria in stochastic games of resource extraction with additive transition structure |
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Constructions of Nash equilibria in stochastic games of resource extraction with additive transition structure (English)
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31 May 2007
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This paper deals with a discounted \(N\)-person stochastic game of resource extraction. The main result concerns the existence of a nonrandomized Nash equilibrium in such a game with an infinite time horizon. The author also provides an algorithm for finding this solution. Namely, it turns out that here Nash equilibria obtained for games within a finite time horizon converge to the Nash equilibrium in a game with an infinite time horizon. Moreover, some interesting numerical examples are added.
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Nash equilibrium
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stochastic game
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resource extraction game
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economic application
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