N—Person Stochastic Games: Extensions of the Finite State Space Case and Correlation

In this chapter, we present a framework for m-person stochastic games with an infinite state space. Our main purpose is to present a correlated equilibrium theorem proved by Nowak and Raghavan [42] for discounted stochastic games with a measurable state space, where the correlation o

Nonzero-sum Stochastic Games

This paper treats of stochastic games. We focus on nonzero-sum games and provide a detailed survey of selected recent results. In Section 1, we consider stochastic Markov games. A correlation of strategies of the players, involving ``public signals'', is described, and a correlated equilibrium theorem proved recently by Nowak and Raghavan for discounted stochastic games with general state space is presented. We also report an extension of this result to a class of undiscounted stochastic games, satisfying some uniform ergodicity condition. Stopping games are related to stochastic Markov games. In Section 2, we describe a version of Dynkin's game related to observation of a Markov process with random assignment mechanism of states to the players. Some recent contributions of the second author in this area are reported. The paper also contains a brief overview of the theory of nonzero-sum stochastic games and stopping games which is very far from being complete

Robust Tracking Control For Robot Manipulators: Theory, Simulation, And Implementation

In this paper, we propose a robust controller for the tracking of robot motion. This controller is a nonlinear-based controller that compensates for the uncertainties present in the manipulator dynamic equation. The main result of this paper is that we explicitly show how the response of the tracking error can be modified by adjusting the control parameters. The corresponding stability result for the tracking error is Global Exponential Stability (GES). We then illustrate how similar control approaches are related to the proposed controller. Finally, simulation and experimental results are utilized to illustrate the performance of the robust controller. © 1993, Cambridge University Press. All rights reserved

On the term structure of futures and forward prices

We investigate the term structure of forward and futures prices for models where the price processes are allowed to be driven by a general marked point process as well as by a multidimensional Wiener process. Within an infinite dimensional HJM-type model for futures and forwards we study the properties of futures and forward convenience yield rates. For finite dimensional factor models, we develop a theory of affine term structures, which is shown to include almost all previously known models. We also derive two general pricing formulas for futures options. Finally we present an easily applicable sufficient condition for the possibility of fitting a finite dimensional futures price model to an arbitrary initial futures price curve, by introducing a time dependent function in the drift term. Key words: term structure, futures price, forward price, options, jump-diffusion model, affine term structure. JEL classification: E43, G1