Zero-sum repeated games: counterexamples to the existence of the asymptotic value and the conjecture \({\max}{\min}=\lim v_{n}\) (Q282504)
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scientific article; zbMATH DE number 6579687
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| English | Zero-sum repeated games: counterexamples to the existence of the asymptotic value and the conjecture \({\max}{\min}=\lim v_{n}\) |
scientific article; zbMATH DE number 6579687 |
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Zero-sum repeated games: counterexamples to the existence of the asymptotic value and the conjecture \({\max}{\min}=\lim v_{n}\) (English)
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12 May 2016
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repeated game
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symmetric information
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stochastic game
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The paper disproves two Mertens' conjectures that sound as follows:NEWLINENEWLINE 1) there exists the asymptotic value in a two-person zero-sum repeated game, andNEWLINENEWLINE 2) Player 1 who is more informed than Player 2 is able to guarantee the asymptotic value in the long run.NEWLINENEWLINE The author constructs an example of a zero-sum repeated game with public signals and perfect observation of actions, where the value of the discussed game does not converge when the discount factor converges to one.
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0.8373798131942749
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0.8303505778312683
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0.8262763619422913
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0.824363648891449
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0.8215497732162476
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