Articles

Stochastic games

E. SOLAN, N. VIEILLE

Proceedings of the National Academy of Sciences of the United States of America (PNAS)

November 2015, vol. 112, n°45, pp.13743-13746

Departments: Economics & Decision Sciences, GREGHEC (CNRS)

Keywords: Game theory, Stochastic games


In 1953, Lloyd Shapley contributed his paper “Stochastic games” to PNAS. In this paper, he defined the model of stochastic games, which were the first general dynamic model of a game to be defined, and proved that it admits a stationary equilibrium. In this Perspective, we summarize the historical context and the impact of Shapley’s contribution.


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