Artikel
Nonmyopia and incentives in the piecewise linearized MDP procedures with variable step-sizes
The paper formulates a piecewise linearized version of the procedure developed by Sato (1983) and analyzes its properties. In so doing, Fujigaki's (1981) private goods economy is extended to involve a public good; and the intertemporal game of Champsaur and Laroque is piecewise localized by dividing the time interval in their game and by using variable step-sizes to formalize the piecewise linearized procedure, called λMDP Procedure, that can possess similar desirable properties shared by continuous-time procedures. Under Nonmyopia assumption, each player's best reply strategy at any discrete date is to reveal his/her anticipated marginal rate of substitution for a public good at the end of a current time interval of the λMDP Procedure.
- Sprache
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Englisch
- Erschienen in
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Journal: Journal of Economic Structures ; ISSN: 2193-2409 ; Volume: 1 ; Year: 2012 ; Pages: 1-23 ; Heidelberg: Springer
- Klassifikation
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Wirtschaft
Public Goods
- Thema
-
incentives
nonmyopia
piecewise linearized procedures
public goods
variable step-sizes
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Sato, Kimitoshi
- Ereignis
-
Veröffentlichung
- (wer)
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Springer
- (wo)
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Heidelberg
- (wann)
-
2012
- DOI
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doi:10.1186/2193-2409-1-5
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Sato, Kimitoshi
- Springer
Entstanden
- 2012
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