There is no known nonlinear Markov perfect equilibrium strategies for the infinite horizon linear quadratic differential game
We discuss published accounts of nonlinear equilibrium strategies in linear quadratic differential games. The main reference: Tsutsui-Mino 1990, is shown to be misleading. •The article of Tsutsui and Mino (1990) does not provide equilibrium strategies for an infinite horizon linear quadratic differe...
Saved in:
| Published in: | Journal of economic theory Vol. 222; p. 105927 |
|---|---|
| Main Author: | |
| Format: | Journal Article |
| Language: | English |
| Published: |
Elsevier Inc
01-12-2024
|
| Subjects: | |
| Online Access: | Get full text |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | We discuss published accounts of nonlinear equilibrium strategies in linear quadratic differential games. The main reference: Tsutsui-Mino 1990, is shown to be misleading.
•The article of Tsutsui and Mino (1990) does not provide equilibrium strategies for an infinite horizon linear quadratic differential game.•The games actually solved in that article do not seem to have any economic relevance.•The approach of “feasible strategies” of Dockner et al. (2000), long known as Blaquière's “playable strategies”, is not a practical concept concerning economic applications. |
|---|---|
| ISSN: | 0022-0531 |
| DOI: | 10.1016/j.jet.2024.105927 |