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Subgame Consistent Economic Optimization: An Advanced Cooperative Dynamic Game Analysis (Static & Dynamic Game Theory: Foundations & Applications)

David W.K. Yeung, Leon A. Petrosyan




[PDF.jo21] Subgame Consistent Economic Optimization: An Advanced Cooperative Dynamic Game Analysis (Static & Dynamic Game Theory: Foundations & Applications)

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 | #6655220 in Books |  Yeung David W |  2011-12-06 | Original language:English | PDF # 1 |  9.21 x.94 x6.14l,1.66 | File type: PDF | 395 pages

 | Subgame Consistent Economic Optimization

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Various imperfections in existing market systems prevent the free market from serving as a truly efficient allocation mechanism, but optimization of economic activities provides an effective remedial measure. Cooperative optimization claims that socially optimal and individually rational solutions to decision problems involving strategic action over time exist. To ensure that cooperation will last throughout the agreement period, however, the stringent condition of su...

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