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It is known (see, e.g., Weibull in Evolutionary Game Theory, MIT Press, <CitationRef CitationID="CR7">1995</CitationRef>) that an evolutionarily stable strategy is not necessarily robust against multiple mutations. Precise definition and analysis of “evolutionarily stable strategy against multiple mutations” are not available in the...</citationref>
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Evolutionary game theory is an increasingly important way to model the evolution of biological populations. Many early models were in the form of matrix games, or bi-matrix games in asymmetric situations when individuals occupy distinct roles within the contest, where rewards are accrued through...
Persistent link: https://www.econbiz.de/10011152320
We relax the common assumption of homogeneous beliefs in principal-agent relationships with adverse selection. Principals are competitors in the product market and write contracts also on the base of an expected aggregate. The model is a version of a cobweb model. In an evolutionary learning...
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Trust is essential in virtually all economic interactions. In this paper, we build on previous work analyzing the “trust game” from the perspective of evolutionary dynamics. There are two players: an “investor” and a “trustee.” The investor begins with one monetary unit and can...
Persistent link: https://www.econbiz.de/10011001876
Rewards and penalties are common practical tools that can be used to promote cooperation in social institutions. The evolution of cooperation under reward and punishment incentives in joint enterprises has been formalized and investigated, mostly by using compulsory public good games. Recently,...
Persistent link: https://www.econbiz.de/10011001879
In models of evolution and learning in games, a variety of proofs of convergence rely on the assumption that the players’ choice functions are integrable. This assumption does not have an obvious game-theoretic interpretation. We address this question by introducing probability models defined...
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