Discounted, positive, and noncooperative stochastic games

1973 ◽  
Vol 2 (1) ◽  
pp. 25-37 ◽  
Author(s):  
T. Parthasarathy
Keyword(s):  
Stochastic Games ◽  
Noncooperative Stochastic Games

scholarly journals Noncooperative Stochastic Games

1971 ◽  
Vol 42 (6) ◽  
pp. 1930-1935 ◽  
Author(s):  
Matthew J. Sobel
Keyword(s):  
Stochastic Games ◽  
Noncooperative Stochastic Games

scholarly journals Cooperative Stochastic Games with Mean-Variance Preferences

Mathematics ◽  
2021 ◽  
Vol 9 (3) ◽  
pp. 230
Author(s):  
Elena Parilina ◽  
Stepan Akimochkin
Keyword(s):  
Standard Deviation ◽  
Stochastic Games ◽  
Stochastic Game ◽  
Stochastic Variable ◽  
Expected Payoff ◽  
The Core ◽  
Risk Sensitive ◽  
Payoff Functions ◽  
Cooperative Solutions ◽  
Mean Variance

In stochastic games, the player’s payoff is a stochastic variable. In most papers, expected payoff is considered as a payoff, which means the risk neutrality of the players. However, there may exist risk-sensitive players who would take into account “risk” measuring their stochastic payoffs. In the paper, we propose a model of stochastic games with mean-variance payoff functions, which is the sum of expectation and standard deviation multiplied by a coefficient characterizing a player’s attention to risk. We construct a cooperative version of a stochastic game with mean-variance preferences by defining characteristic function using a maxmin approach. The imputation in a cooperative stochastic game with mean-variance preferences is supposed to be a random vector. We construct the core of a cooperative stochastic game with mean-variance preferences. The paper extends existing models of discrete-time stochastic games and approaches to find cooperative solutions in these games.

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