Direct method comparing efficient and non-efficient payoffs in differential games

Rincón-Zapatero, Juan Pablo; Martín-Herrán, G.

Direct method comparing efficient and non-efficient payoffs in differential games

Author(s): Rincón-Zapatero, Juan Pablo; Martín-Herrán, G.

Publisher: Springer

Issued date: 2003

Citation: Journal of Optimization Theory and Applications. 2003, vol. 119, nº 2, p. 395-405

ISSN: 0022-3239

DOI: 10.1023/B:JOTA.0000005453.96575.2a

Sponsor: The first author acknowledges financial support from Junta de Castilla y León Project VA 108 01 and Dirección General de Investigación Project BFM2002–00425. The second author acknowledges financial support from JCYL Project VA051 03 and MCYT Project BEC2002-0236, cofinanced by FEDER funds.

Review: PeerReviewed

Publisher version: http://dx.doi.org/10.1023/B:JOTA.0000005453.96575.2a

Keywords: Differential games , Markov-perfect Nash equilibrium , Pareto optimum , Hamilton-Jacobi-Bellman equations

URI: http://hdl.handle.net/10016/5567

Rights: © Plenum

Abstract:

In this note, we present a method that allows us to decide when a Markov-perfect Nash equilibrium is not Pareto optimum, without the explicit knowledge of the respective solutions. For that purpose, we establish a sufficient condition in terms of an algebraic [+]