Durable-Strategies Dynamic Games: Theory, Solution Techniques and Applications

Real-world situations often involve durable strategies that have long-term effects. This book introduces a new game paradigm with durable strategies in decision-making schemes, covering theories, solution techniques, and applications. It expands the scope of applied dynamic game theory and provides a foundation for further advancements. The introduction of durable strategies is a significant contribution to environmental and business applications.

Format: Paperback / softback
Length: 303 pages
Publication date: 02 April 2023
Publisher: Springer Nature Switzerland AG

Strategies that have long-lasting effects are prevalent in real-world situations. Revenue-generating investments, toxic waste disposal, long-lived goods, regulatory measures, coalition agreements, diffusion of knowledge, advertisement, and investments to accumulate physical capital are concrete and common examples of durable strategies. This book provides an augmentation of dynamic game theory and advances a new game paradigm with durable strategies in decision-making schemes. It covers theories, solution techniques, and the applications of a general class of dynamic games with multiple durable strategies. Non-cooperative equilibria and cooperative solutions are derived, along with advanced topics including random termination, asynchronous game horizons, and stochastic analysis. The techniques presented here will enable readers to solve numerous practical dynamic interactive problems with durable strategies. This book not only expands the scope of applied dynamic game theory, but also provides a solid foundation for further theoretical and technical advancements. As such, it will appeal to scholars and students of quantitative economics, game theory, operations research, and computational mathematics.

Before this book, the field simply did not realize that most of our strategies are durable and entail profound effects in the future. Putting them into the mathematical framework of dynamic games is a great innovative effort.

Vladimir Turetsky, Prof.

Weight: 486g
Dimension: 235 x 155 (mm)
ISBN-13: 9783030927448
Edition number: 1st ed. 2022