Direct method comparing efficient and nonefficient payoffs in differential games

DOI10.1023/B:JOTA.0000005453.96575.2AMaRDI QIDQ597182zbMATH OpenFDO

Authors Guiomar Martín-Herrán, Juan Pablo Rincón-Zapatero

Publication date 6 August 2004

Published in Journal of Optimization Theory and Applications (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1023/B:JOTA.0000005453.96575.2A

zbMATH Keywords

differential gamesHamilton-Jacobi-Bellman equationsMarkov-perfect Nash equilibriumPareto optimum

Mathematics Subject Classification ID

Differential games and control (49N70) Differential games (aspects of game theory) (91A23)

Review text

A method is proposed for determining whether a Markov-perfect Nash equilibrium of a differential game is Pareto efficient, without knowledge of the explicit solutions to the Hamilton-Jacobi-Bellman equations. A sufficient condition is provided in terms of an algebraic inequality where the gradient of the value functions of the cooperative and non-cooperative games as well as the state and control variables are involved.

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Cites work

• Distribution and Growth as a Differential Game between Workers and Capitalists
• Dynamic noncooperative game theory
• scientific article; zbMATH DE number 3559328 (Why is no real title available?)

Cited in

(3)

• Identification of efficient subgame-perfect Nash equilibria in a class of differential games
• scientific article; zbMATH DE number 1944076 (Why is no real title available?)
• Developments in differential game theory and numerical methods: Economic and management applications

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