COWLES FOUNDATION FOR RESEARCH IN ECONOMICS
AT YALE UNIVERSITY

Box 208281
New Haven, CT 06520-8281

COWLES FOUNDATION DISCUSSION PAPER NO. 525

"Stochastic Games, Oligopoly Theory and Competitive Resource Allocation"

Martin Shubik and Matthew J. Sobel

1979

We define discrete time sequential games which are multiperson Markov decision processes. The extant theory is sketched and compared with our assessment of research needs in dynamic models of oligopoly and other competitive resource allocation problems. A special class of economic survival games is noted.