Geodesic
Subgame consistent cooperative solution of stochastic dynamic game of public goods provision
Contributions to game theory and management, Tome 7 (2014), pp. 404-414

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The provision of public goods constitutes a classic case of market failure which calls for cooperative optimization. However, cooperation cannot be sustainable unless there is guarantee that the agreed-upon optimality principle can be maintained throughout the planning duration. This paper derives subgame consistent cooperative solutions for public goods provision by asymmetric agents with transferable payoffs in a stochastic discrete-time dynamic game framework. This is the first time that dynamic cooperative game in public goods provision is analysed.
Keywords: Public goods, stochastic dynamic games, dynamic cooperation, subgame consistency. 
@article{CGTM_2014_7_a35,
     author = {David W. K. Yeung and Leon A. Petrosyan},
     title = {Subgame consistent cooperative solution of stochastic dynamic game of public goods provision},
     journal = {Contributions to game theory and management},
     pages = {404--414},
     publisher = {mathdoc},
     volume = {7},
     year = {2014},
     language = {en},
     url = {http://geodesic.mathdoc.fr/item/CGTM_2014_7_a35/}
}
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David W. K. Yeung; Leon A. Petrosyan. Subgame consistent cooperative solution of stochastic dynamic game of public goods provision. Contributions to game theory and management, Tome 7 (2014), pp. 404-414. http://geodesic.mathdoc.fr/item/CGTM_2014_7_a35/