Les Cahiers de Recherche - HEC Paris
Deterministic Multi-Player Dynkin Games
() and SOLAN Eilon
Abstract: A multi-player Dynkin game is a sequential game in which
at every stage one of the players is chosen, and that player can decide
whether to continue the game or to stop it, in which case all players
receive some terminal payoff.
We study a variant of this model, where
the order by which players are chosen is deterministic, and the probability
that the game terminates once the chosen player decides to stop may be
strictly less than one.
We prove that a subgame-perfect e-equilibrium
in Markovian strategies exists. If the game is not degenerate this
e-equilibrium is actually in pure strategies.
Keywords: n-player games; stopping games; subgame perfect equilibrium; (follow links to similar papers)
JEL-Codes: C68; C73; (follow links to similar papers)
25 pages, January 20, 2003
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