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Contributions to Game Theory and Management, 2009, Volume 2, Pages 461–473
(Mi cgtm68)
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This article is cited in 1 scientific paper (total in 1 paper)
Time-consistency Problem Under Condition of a Random Game Duration in Resource Extraction
Ekaterina V. Shevkoplyas St. Petersburg State University,
Faculty of Applied Mathematics and Control Processes,
University pr., 35, Petrodvorets, 198 904 St. Petersburg, Russia
Abstract:
We consider time-consistency problem for cooperative differential $n$-person games with random duration. It is proved, that in many cases the solution (or optimality principle) for such games is time-inconsistent. For regularization of solution the special imputation distributed procedure (IDP) is introduced and the time-consistency of the new regularized optimality principle is proved. At last we consider one game-theoretical problem of non-renewable resource extraction under condition of a random game duration. The problem of time-consistency for the Shapley Value in this example is investigated.
Keywords:
time-consistency, random duration, Shapley Value, differential game, non-renewable resource.
Citation:
Ekaterina V. Shevkoplyas, “Time-consistency Problem Under Condition of a Random Game Duration in Resource Extraction”, Contributions to Game Theory and Management, 2 (2009), 461–473
Linking options:
https://www.mathnet.ru/eng/cgtm68 https://www.mathnet.ru/eng/cgtm/v2/p461
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