arXivDaily arXiv每日学术速递 周一至周五更新
arXiv 2303.12988econ.TH
收藏

刻画 OLG 重复博弈可行支付集

Characterizing the Feasible Payoff Set of OLG Repeated Games

Daehyun Kim, Chihiro Morooka

AI总结:

本文研究重叠代际重复博弈的平稳可行支付集,完全刻画了给定贴现因子和交互长度下的支付集并给出封闭形式,同时发现支付集随贴现因子增大而单调缩小的严格条件。

摘要:

我们研究重叠代际(OLG)重复博弈的(平稳)可行支付集,该支付集可通过每一代玩家执行相同行动序列的行动序列来达成。首先,在给定玩家任意固定贴现因子和交互长度的情况下,我们完全刻画了可行支付集。这使我们能够以封闭形式获得可行支付集。其次,我们提供了可行支付集关于贴现因子和交互长度的新颖比较静态分析。有趣的是,随着玩家贴现因子变大,可行支付集会变小。此外,我们识别了该单调性严格成立的充分必要条件。

英文摘要:

We study the set of (stationary) feasible payoffs of overlapping generation repeated games that can be achieved by action sequences in which every generation of players plays the same sequence of action profiles. First, we completely characterize the set of feasible payoffs given any fixed discount factor of players and the length of interaction. This allows us to obtain the feasible payoff set in closed form. Second, we provide novel comparative statics of the feasible payoff set with respect to the discount factor and the length of interaction. Interestingly, the feasible payoff set becomes smaller as players' discount factor becomes larger. Additionally, we identify a necessary and sufficient condition for this monotonicity to be strict.

机构、总结、中文摘要均由AI分析而来,可能存在错误,请以论文正文为准。

↑