Noisy Stochastic Games

• 成果类型: Article
• 署名作者: Duggan, John
• 署名单位: University of Rochester; University of Rochester
• 刊物名称: ECONOMETRICA
• ISSN/ISSBN: 0012-9682
• DOI: 10.3982/ECTA10125
• 发表日期: 2012
• 页码: 2017-2045
• 关键词: STATIONARY STRATEGIES; 2-PARTY SYSTEM; equilibrium; EXISTENCE; DYNAMICS; POLICY; MULTIFUNCTIONS; INFORMATION; genericity; SPACE

摘要

This paper establishes existence of a stationary Markov perfect equilibrium in general stochastic games with noisea component of the state that is nonatomically distributed and not directly affected by the previous period's state and actions. Noise may be simply a payoff-irrelevant public randomization device, delivering known results on the existence of correlated equilibrium as a special case. More generally, noise can take the form of shocks that enter into players' stage payoffs and the transition probability on states. The existence result is applied to a model of industry dynamics and to a model of dynamic electoral competition.