Munich Personal RePEc Archive

On Time Consistency in Stackelberg Differential Games

Mino, Kazuo (2001): On Time Consistency in Stackelberg Differential Games.

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Abstract

This paper explores a class of Stackelberg differential games in which the open-loop strategies of the leader satisfies time consistency. We show that in this class of games the open-loop equilibrium coincides with the corresponding feedback equilibrium. The analytical framework used in this paper involves the models examined by the several recent contributions to the time consistency issue as special cases.

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