A note on semi-Markov perfect equilibria in discounted stochastic games

A-Tier
Journal: Journal of Economic Theory
Year: 2014
Volume: 151
Issue: C
Pages: 596-604

Authors (2)

Barelli, Paulo (University of Rochester) Duggan, John (not in RePEc)

Score contribution per author:

2.011 = (α=2.01 / 2 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We establish that general discounted stochastic games with state transitions that are absolutely continuous with respect to a fixed, atomless measure admit stationary semi-Markov perfect equilibria, i.e., equilibria in which each player's action depends only on the current state and on the previous state and action profile. This resolves an open existence question stemming from an error in the proof of Theorem 4 of Chakrabarti [3]. Moreover, the result follows from “un-correlating” Nowak and Raghavan's [25] stationary correlated equilibrium, establishing that there is no need to resort to additional, unmodeled state variables.

Technical Details

RePEc Handle
repec:eee:jetheo:v:151:y:2014:i:c:p:596-604
Journal Field
Theory
Author Count
2
Added to Database
2026-01-24