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dc.contributor.authorProf. YEUNG Wing Kay, Daviden_US
dc.contributor.authorPetrosyan, Leon A.en_US
dc.identifier.citationJournal of Computational and Applied Mathematics, Oct. 2021, vol. 395, no. 113595.en_US
dc.description.abstractThis paper establishes a new class of dynamic games which incorporates two frequently observed real-life phenomena — durable strategies and uncertain horizon. In the presence of durable strategies and random horizon, significant modification of the dynamic optimization techniques is required to accommodate these phenomena. A novel dynamic optimization theorem is developed and a new set of equations characterizing a non-cooperative game equilibrium is derived. A subgame consistent solution for the cooperative game counterpart is obtained with a new theorem for the derivation of a payoff distribution procedure under random horizon and durable strategies. A number of new application results in dynamic games are derived to reflect practical considerations in making decision. Computational illustrations in an application involving a dynamic interactive investments game are provided.en_US
dc.relation.ispartofJournal of Computational and Applied Mathematicsen_US
dc.titleGeneralized dynamic games with durable strategies under uncertain planning horizonen_US
dc.typePeer Reviewed Journal Articleen_US
item.fulltextNo Fulltext- of Economics and Finance-
Appears in Collections:Economics and Finance - Publication
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