Explicit formulas for repeated games with absorbing states

Explicit formulas for repeated games with absorbing states

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Article ID: iaor20102043
Volume: 39
Issue: 1
Start Page Number: 53
End Page Number: 69
Publication Date: Mar 2010
Journal: International Journal of Game Theory
Authors:
Abstract:

Explicit formulas are given for the asymptotic value limλ → 0 v(λ) and the asymptotic minmax lim w(λ) of finite λ-discounted absorbing games together with new simple proofs for the existence of the limits as λ goes to zero. Similar characterizations for stationary Nash equilibrium payoffs are obtained. The results may be extended to absorbing games with compact metric action sets and jointly-continuous payoff functions.

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