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Contributions to Game Theory and Management, 2022, Volume 15, Pages 311–324
DOI: https://doi.org/10.21638/11701/spbu31.2022.23 (Mi cgtm432) 		 
On durable-strategies dynamic game theory

David W. K. Yeungab, Yingxuan Zhanga

a SRS Consortium for Advanced Studies, Hong Kong Shue Yan University, 10 Wai Tsui Crescent, Braemar Hill, North Point, Hong Kong
b Center of Game Theory, St. Petersburg State University, 7/9, Universitetskaya nab., St. Petersburg, 199034, Russia
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DOI: https://doi.org/10.21638/11701/spbu31.2022.23
Abstract: An empirically meaningful theory of dynamic games has to incorporate real-life phenomena. Durable strategies, which effects last for a period of time, are prevalent in real-life situations. Revenue generating investments, toxic waste disposal and purchase of durable goods are common examples of durable strategies. This paper first provides a review on durable-strategies dynamic game theory. A practically relevant advancement – random horizon durable-strategies dynamic games - yielding novel results in durable-strategies dynamic games theory is then presented. Dynamic optimization theorem, game formulations and HJB equations are derived. An illustrative example is provided. The theory and solution mechanism of durable-strategies cooperative dynamic games are also discussed.
Keywords: dynamic Game, durable-strategies, random horizon.
Funding agency Grant number
Russian Foundation for Basic Research 99-01-00146
96-15-96245
This work was supported by the French Foundation for Fundamental Researches under grants No. 99-01-00146 and No. 96-15-96245.
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Document Type: Article
Language: English
Citation: David W. K. Yeung, Yingxuan Zhang, “On durable-strategies dynamic game theory”, Contributions to Game Theory and Management, 15 (2022), 311–324
Citation in format AMSBIB
\Bibitem{YeuZha22}
\by David~W.~K.~Yeung, Yingxuan~Zhang
\paper On durable-strategies dynamic game theory
\jour Contributions to Game Theory and Management
\yr 2022
\vol 15
\pages 311--324
\mathnet{http://mi.mathnet.ru/cgtm432}
\crossref{https://doi.org/10.21638/11701/spbu31.2022.23}
\mathscinet{http://mathscinet.ams.org/mathscinet-getitem?mr=4589474}
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