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Stochastic game

About: Stochastic game is a research topic. Over the lifetime, 9493 publications have been published within this topic receiving 202664 citations.


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Journal ArticleDOI
TL;DR: In this article, the authors study non-cooperative constrained stochastic games in which each player controls its own Markov chain based on its own state and actions, and provide an example from wireless communications.

61 citations

Journal ArticleDOI
TL;DR: Wang et al. as mentioned in this paper constructed an Evolutionary Game Model under incomplete information and introduced the expected return as well as replicator dynamics equations of various game agents based on analysis of the game agents, assumptions, and payoff functions of the model in order to study the strategic dynamic trend and stability of the evolutionary game model.
Abstract: During China’s air pollution campaign, whistleblowing has become an important way for the central government to discover local environmental issues. The three parties involved in whistleblowing are: the central government environmental protection departments, the local government officials, and the whistleblowers. Based on these players, this paper has constructed an Evolutionary Game Model under incomplete information and introduced the expected return as well as replicator dynamics equations of various game agents based on analysis of the game agents, assumptions, and payoff functions of the model in order to study the strategic dynamic trend and stability of the evolutionary game model. Furthermore, this paper has conducted simulation experiments on the evolution of game agents’ behaviors by combining the constraints and replicator dynamics equations. The conclusions are: the central environmental protection departments are able to effectively improve the environmental awareness of local government officials by measures such as strengthening punishment on local governments that do not pay attention to pollution issues and lowering the cost of whistleblowing, thus nurturing a good governance and virtuous circle among the central environmental protection departments, local government officials, and whistleblowers. Based on the study above, this paper has provided policy recommendations in the conclusion.

61 citations

Journal ArticleDOI
TL;DR: In this paper, the authors showed that the number of Markov perfect equilibria of general, finite state stochastic games is finite for a set of game payoffs with full Lebesgue measure.
Abstract: This paper esamines Markov perfect equilibria of general, finite state stochastic games. Our main result is that the number of such equilibria is finite for a set of stochastic game payoffs with full Lebesgue measure. We further discuss extensions to lower dimensional stochastie games like the alternating move game.

61 citations

Journal ArticleDOI
TL;DR: In this article, the authors derived expectation representations of the range of arbitrage-free prices of an arbitrary American option and showed that the upper bound of this range is called the upper hedging price and is the smallest initial wealth needed to construct a self-financing portfolio whose value dominates the option payoff at all times.
Abstract: In a general discrete-time market model with proportional transaction costs, we derive new expectation representations of the range of arbitrage-free prices of an arbitrary American option. The upper bound of this range is called the upper hedging price, and is the smallest initial wealth needed to construct a self-financing portfolio whose value dominates the option payoff at all times. A surprising feature of our upper hedging price representation is that it requires the use of randomized stopping times (Baxter and Chacon 1977), just as ordinary stopping times are needed in the absence of transaction costs. We also represent the upper hedging price as the optimum value of a variety of optimization problems. Additionally, we show a two-player game where at Nash equilibrium the value to both players is the upper hedging price, and one of the players must in general choose a mixture of stopping times. We derive similar representations for the lower hedging price as well. Our results make use of strong duality in linear programming.

60 citations

Journal ArticleDOI
TL;DR: In this paper, the authors introduce the notion of clock games and experimentally test them, and show that the game can be extended to the setting where payoffs depend critically on the timing of a few players.

60 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
2023364
2022738
2021462
2020512
2019460
2018483