{"title":"Short Communication: Is a Sophisticated Agent Always a Wise One?","authors":"Jianfeng Zhang","doi":"10.1137/23m1569137","DOIUrl":null,"url":null,"abstract":"For time-inconsistent optimal control problems, a quite popular approach is the equilibrium approach, taken by sophisticated agents. In this short note, we construct a deterministic continuous-time example where the unique equilibrium is dominated by another control. Therefore, in this situation, it may not be wise to take the equilibrium strategy.","PeriodicalId":1,"journal":{"name":"Accounts of Chemical Research","volume":null,"pages":null},"PeriodicalIF":16.4000,"publicationDate":"2023-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Accounts of Chemical Research","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1137/23m1569137","RegionNum":1,"RegionCategory":"化学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"CHEMISTRY, MULTIDISCIPLINARY","Score":null,"Total":0}
引用次数: 0
Abstract
For time-inconsistent optimal control problems, a quite popular approach is the equilibrium approach, taken by sophisticated agents. In this short note, we construct a deterministic continuous-time example where the unique equilibrium is dominated by another control. Therefore, in this situation, it may not be wise to take the equilibrium strategy.
期刊介绍:
Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance.
Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.