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We describe the large deviations properties, stationary distribution asymptotics, and stochastically stable states of stochastic evolutionary processes based on the logit choice rule, focusing on behavior in the small noise double limit. These aspects of the stochastic evolutionary process can...
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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...
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Recently there has been a growing interest in evolutionary models of play with endogenous interaction structure. We call such processes co-evolutionary dynamics of networks and play. We study a co-evolutionary process of networks and play in settings where players have diverse preferences. In...
Persistent link: https://www.econbiz.de/10010845484
Modeling the evolution of networks is central to our understanding of large communication systems, and more general, modern economic and social systems. The research on social and economic networks is truly interdisciplinary and the number of proposed models is huge. In this survey we discuss a...
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A recent literature in evolutionary game theory is devoted to the question of robust equilibrium selection under noisy best-response dynamics. In this paper we present a complete picture of equilibrium selection for asymmetric binary choice coordination games in the small noise limit. We achieve...
Persistent link: https://www.econbiz.de/10010573664