Cyclic Markov equilibria in stochastic games

Cyclic Markov equilibria in stochastic games

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Article ID: iaor19982902
Country: Germany
Volume: 26
Issue: 3
Start Page Number: 303
End Page Number: 314
Publication Date: Jan 1997
Journal: International Journal of Game Theory
Authors: , ,
Abstract:

We examine a three-person stochastic game where the only existing equilibria consist of cyclic Markov strategies. Unlike in two-person games of a similar type, stationary ϵ-equilibria (ϵ>0) do not exist for this game. Besides we characterize the set of feasible equilibrium rewards.

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