Discrete–Time Stochastic Control and Dynamic Potential Games
The Euler–Equation Approach
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Beschreibung
There are several techniques to study noncooperative dynamic games, such as dynamic programming and the maximum principle (also called the Lagrange method). It turns out, however, that one way to characterize dynamic potential games requires to analyze inverse optimal control problems, and it is here where the Euler equation approach comes in because it is particularly well–suited to solve inverse problems. Despite the importance of dynamic potential games, there is no systematic study about them. This monograph is the first attempt to provide a systematic, self–contained presentation of stochastic dynamic potential games.
Presents a systematic, comprehensive, self-contained analysis of dynamic potential games, which appears for the first time in book form? Reader-friendly, at a graduate student level Substantial number of examples and applications, mainly from mathematical economics Includes supplementary material: sn.pub/extras
Autor*in
David González-Sánchez
Themen in »Discrete–Time Stochastic Control and Dynamic Potential Games«
Dynamic games Dynamic potential games Euler equation Inverse optimal control problems Stochastic optimal control Transversality condition