A Vindication of Open-Loop Equilibria in Differential Games
摘要
This chapter assesses the properties of open-loop equilibria to clarify their relevance. To this aim, it illustrates the classes of differential games which yield degenerate feedback strategies and equilibria under open-loop information. Then, it discusses the nature of the open-loop solutions of games in which such solutions are strongly time consistent, accounting also for the normative prescriptions one can draw on their basis.