Nonmyopia and incentives in the piecewise linearized MDP procedures with variable step-sizes

Artikel

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Journal of Economic Structures ; ISSN: 2193-2409 ; Volume: 1 ; Year: 2012 ; Pages: 1-23 ; Heidelberg: Springer

Classification and Topics

• Classification: Wirtschaft ; Public Goods
• Subject: incentives ; nonmyopia ; piecewise linearized procedures ; public goods ; variable step-sizes

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Sato, Kimitoshi
• Event: Veröffentlichung
• (who): Springer
• (where): Heidelberg
• (when): 2012

Further information

• DOI: doi:10.1186/2193-2409-1-5
• Handle: http://hdl.handle.net/10419/78619
• Last update: 10.03.2025, 11:44 AM CET