In dynamic games, a Markov equilibrium involves strategies that guide players' behaviour based on the current state of the game, rather than its entire history. This approach is effective when players have access to complete information. But when uncertainty arises in the game—for instance, when players are unsure of who they are dealing with—this approach can become problematic. Eric Maskin, Nobel Laureate in Economics and Professor at Harvard University, addressed this issue in a paper presented at the XXV Yasin (April) International Academic Conference on Economic and Social Development held at HSE University from April 15 to 18, 2025.
