The study of evolutionary dynamics was so far mainly restricted to finite strategy spaces. In this paper we show that this restriction is in most cases unnecessary. We give a mild condition under which the continuous time replicator dynamics are well defined for infinite strategy spaces....

Cooperative and noncooperative games have no representation of players's basis utilities. Basis utility is the natural reference point on a player's utility scale that enables the determination the marginal utility of any payoff or allocation. A player's basis utility can be determined by an...

In John Nash’s proofs for the existence of (Nash) equilibria based on Brouwer’s theorem, an iteration mapping is used. A continuous— time analogue of the same mapping has been studied even earlier by Brown and von Neumann. This differential equation has recently been suggested as a...

We show in this paper that none of the existing static evolutionary stability concepts (ESS, CSS, uninvadability, NIS) is sufficient to guarantee dynamic stability in the weak topology with respect to standard evolutionary dynamics if the strategy space is continuous. We propose a new concept,...

This paper consider the dynamic evolution of algorithmic (recursive) learning rules in a normal form game. It is shown that the system - the population frequencies - is globally stable for any arbitrary N-player normal form game, if the evolutionary process is algorithmic and the `birth process'...

Due to the externalities, in normal form games a deviation changes the payoff of all players inducing a retaliation by the remaining or residual players. The stability of an outcome depends on the expectations potential deviators have about this reaction, but so far no satisfactory theory has...

This paper builds a model of fragmented duopsony in backward agriculture following Basu and Bell (1991) in which the purchasers (traders) have captive markets each but compete in a contested market. We focus on the formation of captive markets through trader-farmer interlinkage in the form of...

We propose a quantum-like description of markets and economics. The approach has roots in the recently developed quantum game theory. Quantum Zeno paradoxes and noncomutative quantum mecanics are also discussed.

Divided societies in the developing world experience wasteful struggles for power. We study the relationship between political stability and resources wasted in the struggle within a model of competitive power contests. The model of power contests is similar in structure to models describing...