Durable strategies that have prolonged effects are prevalent in
real-world situations. Revenue-generating investments, toxic waste
disposal, long-lived goods, regulatory measures, coalition agreements,
diffusion of knowledge, advertisement and investments to accumulate
physical capital are concrete and common examples of durable strategies.
This book provides an augmentation of dynamic game theory and advances a
new game paradigm with durable strategies in decision-making schemes. It
covers theories, solution techniques, and the applications of a general
class of dynamic games with multiple durable strategies. Non-cooperative
equilibria and cooperative solutions are derived, along with advanced
topics including random termination, asynchronous game horizons, and
stochastic analysis. The techniques presented here will enable readers
to solve numerous practical dynamic interactive problems with durable
strategies.
This book not only expands the scope of applied dynamic game theory, but
also provides a solid foundation for further theoretical and technical
advancements. As such, it will appeal to scholars and students of
quantitative economics, game theory, operations research, and
computational mathematics.
"Not too many new concepts have been introduced in dynamic games since
their inception. The introduction of the concept of durable strategies
changes this trend and yields important contributions to environmental
and business applications."
Dusan M Stipanovic, Professor, University of Illinois at
Urbana-Champaign
"Before this book, the field simply did not realize that most of our
strategies are durable and entail profound effects in the future.
Putting them into the mathematical framework of dynamic games is a great
innovative effort."
Vladimir Turetsky, Professor, Ort Braude College
"Durable-strategies Dynamic Games is truly a world-leading addition to
the field of dynamic games. It is a much needed publication to tackle
increasingly crucial problems under the reality of durable strategies."
Vladimir Mazalov, Director of Mathematical Research, Russian Academy of
Sciences & President of the International Society of Dynamic Games
