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In this paper we generalized static team theory to dynamic team theory, in the context of stochastic differential decision system with decentralized noiseless feedback information structures. We apply Girsanov's theorem to transformed the initial stochastic dynamic team problem to an equivalent team problem , under a reference probability space, with state process and information structures independent of any of the team decisions. Subsequently, we derive team and Person-by-Person (PbP)fatcat:jleqr7jiovgdbnepmcik7yzryu