|
|||||
|
|
Characterization of equilibrium strategies in a class of difference games |
|
| Authors: | Engelbert J Dockner Kazuo Nishimura |
| Institution: | 1. Department of Business Studies , University of Vienna , Vienna, 1210, Austria;2. Institute of Economic Research , Kyoto University , Kyoto, 606, Japan |
| Abstract: | We formulate a class of N player difference games and derive open—loop and Markov equilibria. It turns out that both types of equilibria can be characterized by a set of difference equations that describe the equilibrium dynamics. We analyze the stability properties of the difference equations that correspond to an equilibrium and find that in both the open—loop and the Markov game there is convergence towards a steady state equilibrium |
| Keywords: | functional difference equations abstract phase space bounded solutions almost periodic solutions asymptotically almost periodic solutions |