Title

A Qualitative Characterization Of Symmetric Open-Loop Nash Equilibria In Discounted Infinite Horizon Differential Games

Keywords

Local comparative dynamics; Local stability; Steady state comparative statics; Symmetric open-loop Nash equilibria

Abstract

The local stability, steady state comparative statics, and local comparative dynamics of symmetric open-loop Nash equilibria for the ubiquitous class of discounted infinite horizon differential games are investigated. It is shown that the functional forms and values of the parameters specified in a differential game are crucial in determining the local stability of a steady state and, in turn, the steady state comparative statics and local comparative dynamics. A simple sufficient condition for a steady state to be a local saddle point is provided. The power and reach of the results are demonstrated by applying them to two well-known differential games. © 2011 Springer Science+Business Media, LLC.

Publication Date

2-1-2011

Publication Title

Journal of Optimization Theory and Applications

Volume

149

Issue

1

Number of Pages

151-174

Document Type

Article

Personal Identifier

scopus

DOI Link

https://doi.org/10.1007/s10957-010-9779-x

Socpus ID

79952100757 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/79952100757

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