The class of repeated two-player games (with long-run average payoff criterion) is extended to accommodate initial holdings of wealth and the possibility of ruin. Equilibria of these games are studied under the assumption that each player regards his own ruin as the worst possible outcome of the game and his opponent's ruin as the best possible outcome.
ASJC Scopus subject areas
- Statistics and Probability
- Mathematics (miscellaneous)
- Social Sciences (miscellaneous)
- Economics and Econometrics
- Statistics, Probability and Uncertainty