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| Kenji Fujiwara and Norimichi Matsueda |
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| ''On a Nonlinear Feedback Strategy Equilibrium of a Dynamic Game'' |
| ( 2007, Vol. 3 No.8 ) |
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| This paper reports an intriguing property of a nonlinear feedback Nash strategy equilibrium in a dynamic game with no state variable in the payoff of each player. While the open-loop Nash and linear feedback Nash equilibria coincide with the static Cournot-Nash equilibrium in such a framework, the nonlinear feedback strategy can be properly defined and, furthermore, a particular type of the equilibrium outcomes approximates the bilateral collusion, as is originally proved by Tsutsui and Mino (1990) for a standard differential game with one state variable. |
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| Manuscript Received : Feb 20 2007 | | Manuscript Accepted : Feb 24 2007 |
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