n -Person Dynamic Strategic Market Games

n -Person Dynamic Strategic Market Games We present a discrete n -person model of a dynamic strategic market game. We show that for some values of the discount factor the game possesses a stationary equilibrium where all the players make high bids. Within the class of all the high-bidding strategies we distinguish between two classes of more and less aggressive ones. We show that the set of discount factors for which these more aggressive strategies form equilibria shrinks as n goes to infinity. On the other hand, the analogous set for the less aggressive strategies grows to the whole interval (0,1) as n grows to infinity. Further we analyze the properties of the value function corresponding to these high-bidding equilibria. We also give some numerical examples contradicting some other properties that seem intuitive. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Applied Mathematics and Optimization Springer Journals

n -Person Dynamic Strategic Market Games

Loading next page...
 
/lp/springer_journal/n-person-dynamic-strategic-market-games-USgaoLx0GE
Publisher
Springer-Verlag
Copyright
Copyright © 2012 by Springer Science+Business Media, LLC
Subject
Mathematics; Numerical and Computational Physics; Systems Theory, Control; Calculus of Variations and Optimal Control; Optimization; Theoretical, Mathematical and Computational Physics; Mathematical Methods in Physics
ISSN
0095-4616
eISSN
1432-0606
D.O.I.
10.1007/s00245-011-9147-8
Publisher site
See Article on Publisher Site

References

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 12 million articles from more than
10,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Unlimited reading

Read as many articles as you need. Full articles with original layout, charts and figures. Read online, from anywhere.

Stay up to date

Keep up with your field with Personalized Recommendations and Follow Journals to get automatic updates.

Organize your research

It’s easy to organize your research with our built-in tools.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

Monthly Plan

  • Read unlimited articles
  • Personalized recommendations
  • No expiration
  • Print 20 pages per month
  • 20% off on PDF purchases
  • Organize your research
  • Get updates on your journals and topic searches

$49/month

Start Free Trial

14-day Free Trial

Best Deal — 39% off

Annual Plan

  • All the features of the Professional Plan, but for 39% off!
  • Billed annually
  • No expiration
  • For the normal price of 10 articles elsewhere, you get one full year of unlimited access to articles.

$588

$360/year

billed annually
Start Free Trial

14-day Free Trial