Interactive economic dynamics and differential games |
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| Authors: | S Clemhout H Y Wan Jr |
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| Institution: | (1) Department of Consumer Economics and Housing, Cornell University, Ithaca, New York;(2) Department of Economics, Cornell University, Ithaca, New York |
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| Abstract: | This survey reviews the applications of differential game theory in analyzing issues in the economic literature. The needs of the economic discipline are juxtaposed with the merits of various existing types of differential games. Suggestions are also made as to areas holding great promise for future research.The authors are grateful to Prof. George Leitmann for suggestions to their final draft, which improved the clarity of certain assumptions in keeping with the literature. |
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| Keywords: | Economics differential games closed-loop strategy open-loop strategy Nash noncooperative equilibrium |
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