Hamiltonian potential functions for differential games

We introduce the concept of Hamiltonian potential function for noncooperative open-loop differential games with n players, n controls and n states, and characterise a sufficient condition for its existence. We also identify a class of games admitting a Hamiltonian potential and provide appropriate examples pertaining to advertising, industrial organization and macroeconomic policy

On the Upper Bound of Near Potential Differential Games

This letter presents a novel analysis of the subclass of near potential differential games (NPDG). NPDGs are a subclass of potential differential games, for which a distance between an exact potential differential game and the NPDG. An appealing property of NPDGs is that, the smaller the distance between an exact potential differential game and the NPDG, the closer are their behaviors. In this letter, a novel upper estimation for this distance is given. Moreover, a relationship between this distance and the resulting trajectory errors is established opening the possibility for further application of NPDGs.Comment: This work has been submitted to Elsevier for possible publicatio

Remarks on existence and uniqueness of Cournot-Nash equilibria in the non-potential case

This article is devoted to various methods (optimal transport, fixed-point, ordinary differential equations) to obtain existence and/or uniqueness of Cournot-Nash equilibria for games with a continuum of players with both attractive and repulsive effects. We mainly address separable situations but for which the game does not have a potential. We also present several numerical simulations which illustrate the applicability of our approach to compute Cournot-Nash equilibria

A Simulation Study of an ASEAN Monetary Union (Replaces CentER DP 2010-100)

This paper analyzes some pros and cons of a monetary union for the ASEAN1 countries, excluding Myanmar. We estimate a stylized open-economy dynamic general equilibrium model for the ASEAN countries. Using the framework of linear quadratic differential games, we contrast the potential gains or losses for these countries due to economic shocks, in case they maintain their status-quo, they coordinate their monetary and/or fiscal policies, or form a monetary union. Assuming for all players open-loop information, we conclude that there are substantial gains from cooperation of monetary authorities. We also find that whether a monetary union improves upon monetary cooperation depends on the type of shocks and the extent of fiscal policy cooperation. Results are based both on a theoretical study of the structure of the estimated model and a simulation study.ASEAN economic integration;monetary union;linear quadratic differential games;open-loop information structure