[{"ddc":["330"],"file_date_updated":"2016-04-14T14:09:56Z","jel":["C61","C73","D21","L12"],"abstract":[{"lang":"eng","text":"We introduce a notion of subgames for stochastic timing games and the related\r\nnotion of subgame-perfect equilibrium in possibly mixed strategies. While a good notion of\r\nsubgame-perfect equilibrium for continuous-time games is not available in general, we argue\r\nthat our model is the appropriate version for timing games. We show that the notion coincides\r\nwith the usual one for discrete-time games. Many timing games in continuous time have only\r\nequilibria in mixed strategies – in particular preemption games, which often occur in the\r\nstrategic real option literature. We provide a sound foundation for some workhorse equilibria\r\nof that literature, which has been lacking as we show. We obtain a general constructive\r\nexistence result for subgame-perfect equilibria in preemption games and illustrate our findings\r\nby several explicit applications."}],"place":"Bielefeld","first_author":"Riedel, Frank","urn":"urn:nbn:de:0070-pub-26987738","date_updated":"2018-07-24T13:01:10Z","publisher":"Center for Mathematical Economics","keyword":["timing games","stochastic games","mixed strategies","subgame-perfect equilibrium in continuous time","optimal stopping"],"_id":"2698773","accept":"1","title":"Subgame-Perfect Equilibria in Stochastic Timing Games","file":[{"content_type":"application/x-download","access_level":"open_access","date_updated":"2016-04-14T14:09:56Z","open_access":"1","relation":"main_file","file_name":"IMW_working_paper_524.pdf","success":"1","date_created":"2016-04-14T14:09:56Z","file_size":"607863","file_id":"2902679","creator":"weingarten"}],"oa":1,"citation":{"apa":"Riedel, F., & Steg, J. - H. (2014). *Subgame-Perfect Equilibria in Stochastic Timing Games* (Center for Mathematical Economics Working Papers, 524). Bielefeld: Center for Mathematical Economics.","bio1":"Riedel F, Steg J-H (2014)

*Subgame-Perfect Equilibria in Stochastic Timing Games*. Center for Mathematical Economics Working Papers; 524.

Bielefeld: Center for Mathematical Economics.","frontiers":"Riedel, F., and Steg, J. - H. (2014). Subgame-Perfect Equilibria in Stochastic Timing Games. *Center for Mathematical Economics Working Papers*, 524, Bielefeld: Center for Mathematical Economics.","mla":"Riedel, Frank, and Steg, Jan-Henrik. *Subgame-Perfect Equilibria in Stochastic Timing Games*. Bielefeld: Center for Mathematical Economics, 2014. Center for Mathematical Economics Working Papers. 524.","default":"Riedel F, Steg J-H (2014) Center for Mathematical Economics Working Papers; 524.

Bielefeld: Center for Mathematical Economics.","angewandte-chemie":"F. Riedel, and J. - H. Steg, *Subgame-Perfect Equilibria in Stochastic Timing Games*, Center For Mathematical Economics, Bielefeld, **2014**.","lncs":" Riedel, F., Steg, J.-H.: Subgame-Perfect Equilibria in Stochastic Timing Games. Center for Mathematical Economics Working Papers, 524. Center for Mathematical Economics, Bielefeld (2014).","chicago":"Riedel, Frank, and Steg, Jan-Henrik. 2014. *Subgame-Perfect Equilibria in Stochastic Timing Games*. Vol. 524. Center for Mathematical Economics Working Papers. Bielefeld: Center for Mathematical Economics.

","dgps":"Riedel, F. & Steg, J.-H. (2014). *Subgame-Perfect Equilibria in Stochastic Timing Games* (Center for Mathematical Economics Working Papers). Bielefeld: Center for Mathematical Economics.

","wels":"Riedel, F.; Steg, J. - H. (2014): Subgame-Perfect Equilibria in Stochastic Timing Games. Bielefeld: Center for Mathematical Economics.","ama":"Riedel F, Steg J-H. *Subgame-Perfect Equilibria in Stochastic Timing Games*. Center for Mathematical Economics Working Papers. Vol 524. Bielefeld: Center for Mathematical Economics; 2014.","aps":" F. Riedel and J. - H. Steg, Subgame-Perfect Equilibria in Stochastic Timing Games, Center for Mathematical Economics Working Papers (Center for Mathematical Economics, Bielefeld, 2014).","apa_indent":"Riedel, F., & Steg, J. - H. (2014). *Subgame-Perfect Equilibria in Stochastic Timing Games* (Center for Mathematical Economics Working Papers, 524). Bielefeld: Center for Mathematical Economics.

","harvard1":"Riedel, F., & Steg, J.-H., 2014. *Subgame-Perfect Equilibria in Stochastic Timing Games*, Center for Mathematical Economics Working Papers, no.524, Bielefeld: Center for Mathematical Economics.","ieee":" F. Riedel and J.-H. Steg, *Subgame-Perfect Equilibria in Stochastic Timing Games*, Center for Mathematical Economics Working Papers, vol. 524, Bielefeld: Center for Mathematical Economics, 2014."},"intvolume":" 524","publication_identifier":{"issn":["0931-6558"]},"volume":"524","page":"28","language":[{"iso":"eng"}],"locked":"1","date_created":"2014-10-07T12:09:28Z","type":"working_paper","series_title":"Center for Mathematical Economics Working Papers","publication_status":"published","edit_mode":"expert","department":[{"_id":"10053"}],"status":"public","year":"2014","author":[{"full_name":"Riedel, Frank","first_name":"Frank","id":"4244291","last_name":"Riedel"},{"full_name":"Steg, Jan-Henrik","first_name":"Jan-Henrik","last_name":"Steg","id":"182054"}]}]