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JOURNALS // Contributions to Game Theory and Management // Archive

Contributions to Game Theory and Management, 2009 Volume 2, Pages 461–473 (Mi cgtm68)

This article is cited in 1 paper

Time-consistency Problem Under Condition of a Random Game Duration in Resource Extraction

Ekaterina V. Shevkoplyas

St. Petersburg State University, Faculty of Applied Mathematics and Control Processes, University pr., 35, Petrodvorets, 198 904 St. Petersburg, Russia

Abstract: We consider time-consistency problem for cooperative differential $n$-person games with random duration. It is proved, that in many cases the solution (or optimality principle) for such games is time-inconsistent. For regularization of solution the special imputation distributed procedure (IDP) is introduced and the time-consistency of the new regularized optimality principle is proved. At last we consider one game-theoretical problem of non-renewable resource extraction under condition of a random game duration. The problem of time-consistency for the Shapley Value in this example is investigated.

Keywords: time-consistency, random duration, Shapley Value, differential game, non-renewable resource.

Language: English



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