- A-Z
- Jena Economic Resea...
- Volume 9
- Slow and steady win...
Slow and steady wins the race: approximating Nash
equilibria in nonlinear quadratic tracking games
- Autor(in)
- Erschienen
- 13. Juli 2015
- Nummer des Discussion-Papers
-
2015-011
- Schlagwort(e)
-
Differential Evolution
Dynamic games
Nash equilibrium
- Zusammenfsg.
-
We propose a meta-heuristic approach for solving nonlinear dynamic tracking games. In contrast to more ‘traditional’ methods based on linear-quadratic (LQ) techniques, this derivative-free method is very flexible (e.g. to introduce inequality constraints). The meta-heuristic is applied to a three-player dynamic game and tested versus derivative-dependent method in approximating Nash solution in different game specifications. We demonstrate the superiority of the proposed approach in identifying Nash equilibria, where LQ methods are not applicable.
- article pub. typess JER
- Research article
- article languages JER
- Englisch
- JEL-Classification for JER
- C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; C63 - Computational Techniques ; C72 - Noncooperative Games ; C73 - Stochastic and Dynamic Games; Evolutionary Games; Repeated Games ; E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination