Markov Perfect Equilibria in Revision Games

Abstract

Extending the framework of revision games studied in Kandori and Kamada (2011) and Calcagno et al. (2013), we consider games with finite sets of players, actions and states. Opportunities to play arrive in continuous time according to a Poisson process. At an arrival, players can change actions and a state transition may occur. Players care about the payoff at a fixed terminal date. We study subgame and Markov perfect equilibria. We prove results of existence and of generic uniqueness.