Skip to main content
SpringerLink
Log in

Agreeability and Time Consistency in Linear-State Differential Games

  • Published:
Journal of Optimization Theory and Applications Aims and scope Submit manuscript

Abstract

The paper identifies conditions under which time consistency and agreeability, two intertemporal individual rationality concepts, can be verified in linear-state differential games. An illustrative example drawn from environmental economics is provided.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Similar content being viewed by others

References

  1. Petrosjan, L. A., and Zenkevich, N.A., Game Theory, World Scientific, Singapore, Republic of Singapore, 1996.

    Google Scholar 

  2. Petrosjan, L. A., Agreeable Solutions in Differential Games, International Journal of Mathematics, Game Theory, and Algebra, Vol. 7, pp. 165-177, 1997.

    Google Scholar 

  3. Kaitala, V., and Pohjola, M., Economic Development and Agreeable Redistribution in Capitalism: Efficient Game Equilibria in a Two-Class Neoclassical Growth Model, International Economic Review, Vol. 31, pp. 421-437, 1990.

    Google Scholar 

  4. Dockner, E., JØrgensen, S., Van Long, N., and Sorger, G., Differential Games in Economics and Management Science, Cambridge University Press, Cambridge, UK, 2000.

    Google Scholar 

  5. JØrgensen, S., and Zaccour, G., Time Consistency in Cooperative Differential Games, Decision and Control in Management Science (in Honor of Alain Haurie), Edited by G. Zaccour, Kluwer Academic Publishers, Dordrecht, Netherlands, pp. 349-366, 2002.

    Google Scholar 

  6. Clemhout, S., and Wan, H. Y., Jr., A Class of Trilinear Differential Games, Journal of Optimization Theory and Applications, Vol. 14, pp. 419-424, 1974.

    Google Scholar 

  7. Reinganum, J. F., A Class of Differential Games for Which the Open-Loop and Closed-Loop Equilibria Coincide, Journal of Optimization Theory and Applications, Vol. 36, pp. 453-462, 1982.

    Google Scholar 

  8. Petrosjan, L. A., and Zaccour, G., Time-Consistent Shapley Value Allocation of Pollution Cost Control, Journal of Economic Dynamics and Control, Vol. 27, pp. 381-398, 2003.

    Google Scholar 

  9. Dockner, E., Feichtinger, G., and JØrgensen, S., Tractable Classes of Nonzero-Sum Open-Loop Nash Differential Games, Journal of Optimization Theory and Applications, Vol. 45, pp. 179-198, 1985.

    Google Scholar 

  10. Fershtman, C., Identification of Classes of Differential Games for Which the Open Loop Is a Degenerate Feedback Nash Equilibrium, Journal of Optimization Theory and Applications, Vol. 55, pp. 217-231, 1987.

    Google Scholar 

  11. JØrgensen, S., and Zaccour, G., Time-Consistent Side Payments in a Dynamic Game of Downstream Pollution, Journal of Economic Dynamics and Control, Vol. 25, pp. 1973-1987, 2001.

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Department of Organization and Management, University of Southern Denmark, Odense, Denmark

    S. Jørgensen (Professor)

  2. Departamento de Economía Aplicada (Matemáticas), Universidad de Valladolid, Valladolid, Spain

    G. Martín-Herrán (Assistant Professor)

  3. GERAD and Marketing Department, HEC-Montréal, Montréal, Canada

    G. Zaccour (Professor)

Authors
  1. S. Jørgensen
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. G. Martín-Herrán
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. G. Zaccour
    View author publications

    You can also search for this author in PubMed Google Scholar

Rights and permissions

Reprints and permissions

About this article

Cite this article

Jørgensen, S., Martín-Herrán, G. & Zaccour, G. Agreeability and Time Consistency in Linear-State Differential Games. Journal of Optimization Theory and Applications 119, 49–63 (2003). https://doi.org/10.1023/B:JOTA.0000005040.78280.a6

Download citation

  • Issue Date:

  • DOI: https://doi.org/10.1023/B:JOTA.0000005040.78280.a6

Search

Navigation