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We consider a model of stochastic evolution under general noisy best response protocols, allowing the probabilities of suboptimal choices to depend on their payoff consequences. Our analysis focuses on behavior in the small noise double limit: we first take the noise level in agents' decisions...
Persistent link: https://www.econbiz.de/10011672142
We consider a two-dimensional model of three species in rock-paper-scissors competition and study the self-organisation of the population into fascinating spiraling patterns. Within our individual-based metapopulation formulation, the population composition changes due to cyclic dominance...
Persistent link: https://www.econbiz.de/10011550519
A stochastic model for behavioral changes by imitative pair interactions of individuals is developed. 'Microscopic' assumptions on the specific form of the imitative processes lead to a stochastic version of the game dynamical equations. That means, the approximate mean value equations of these...
Persistent link: https://www.econbiz.de/10012777801
We consider a basic stochastic evolutionary model with rare mutation and a best-reply (or better-reply) selection mechanism. Following Young's papers, we call a state stochastically stable if its long-term relative frequency of occurrence is bounded away from zero as the mutation rate decreases...
Persistent link: https://www.econbiz.de/10009727120
We introduce a generalized theoretical approach to study imitation models and subject themodels to rigorous experimental testing. In our theoretical analysis we find that the differentpredictions of previous imitation models are due to different informational assumptions, notto different...
Persistent link: https://www.econbiz.de/10011509505
Persistent link: https://www.econbiz.de/10010442507
We introduce a generalized theoretical approach to study imitation and subject it to rigorous experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to different informational assumptions, not to different behavioral rules....
Persistent link: https://www.econbiz.de/10010366552
It is a very well-known result that in terms of evolutionary stability the long-run outcome of a Cournot oligopoly market with finitely many firms approaches the perfectly competitive Walrasian market outcome (Vega-Redondo, 1997). However, in this paper we show that an asymmetric structure in...
Persistent link: https://www.econbiz.de/10010399434
Persistent link: https://www.econbiz.de/10014545380
We propose a learning dynamic with agents using samples of past play to estimate the distribution of other players' strategy choices and best responding to this estimate. To account for noisy play, estimated distributions over other players' strategy choices have full support in the other...
Persistent link: https://www.econbiz.de/10011396934