Séminaire sur les jeux dynamiques et les applications

Titre : All symmetric equilibria in differential games with public goods

Conférencier : Florian Wagener – University of Amsterdam, Pays-Bas

Lien pour le séminaire
Nº de réunion : 962 7774 9870
Code secret : 285404

We characterise the entire set of symmetric stationary Markov-perfect Nash equilibria (MPE) in a class of differential games of public good investment, using the canonical problem of climate change as an example. We provide a sufficient and necessary condition for MPE and show how the set of MPE is constructed. The equilibrium in continuous strategies, unique in our context, is Pareto-dominated by any other equilibrium. We extend the theory of differential games to deal with payoffs under discontinuous strategies. Our methods work under general functional forms.