Selection of a correlated equilibrium in Markov stopping games

This paper deals with an extension of the concept of correlated strategies to Markov stopping games. The Nash equilibrium approach to solving nonzero-sum stopping games may give multiple solutions. An arbitrator can suggest to each player the decision to be applied at each stage based on a joint distribution over the players' decisions according to some optimality criterion. This is a form of equilibrium selection. Examples of correlated equilibria in nonzero-sum games related to the best choice problem are given. Several concepts of criteria for selecting a correlated equilibrium are used.

• Type: Journal
• Year: 2008
• Where: EOR
• Authors: David M. Ramsey, Krzysztof Szajowski
• Keywords: EOR 2008, Multiple Solutions, Nash Equilibrium Approach, Optimality Criterion