outcomes resemble the symmetric Nash equilibrium. The strategies that survive evolutionary competition achieve much higher …

in low payoff states. A clear-cut equilibrium selection result isobtained: the payoff dominant equilibrium emerges as the … unique long runequilibrium. Furthermore, the expected waiting time until the payoffdominant equilibrium is reached is …

create an actual selective advantage for a second mutant. Such stepping stone paths out of equilibrium generally exist both … equilibrium exist, they could still be rare compared to the size of the strategy space. Simulations however suggest that they are … equilibrium to equilibrium through a series of indirect invasions. Instability does not mean we cannot draw qualitative …

well known refinements of the Nash equilibrium, namely, perfect Nash equilibrium and proper Nash equilibrium, are special … Nash equilibrium is shown to exist for every game. In symmetric bimatrix games, our results imply the existence of a … symmetric proper equilibrium. Applying our results to the field of evolutionary game theory yields a refinement of the …

, Slutsky's equations are derived. The different speeds of equilibrium adjustment in economic and climate models is reconciled … in the Recursive Equilibrium with Environmental Damages (REED). An exchange economy and Robinson Crusoe economy …

This paper conducts the first general equilibrium analysis of the role of entry, exit and profits in industry dynamics … function of creating disequilibrium and the conventional equilibrating role of moving the industry to a new equilibrium. Second …, to discriminate between three aspects of industry dynamics: the effect of entry and exit on market equilibrium, duration …

existence and uniqueness of Markovian equilibrium are weIl known for the compact state space case, no similar sufficient … algorithm that will prove asymptotically consistent when computing Markovian equilibrium. …

interrelationship between firm entry and exit in disequilibrium. Introducing a new methodology we investigate whether this … interrelationship differs between market ‘undershooting’ (the actual number of firms is below the equilibrium number) and ‘overshooting …’ (vice versa). We find that equilibrium-restoring mechanisms are faster in over than in undershoots. The results imply that …