The apparently sub-optimal behaviour of economic agents in games against nature can be seen as a natural outcome of evolutionary processes. This paper extends previous work on the evolutionary stability of sub-optimal adaptations by examining how stability is affected by the introduction of...

It is shown that the equilibrium notion of an evolutionary stable strategy (ESS) does have predictive power for standard models of Bertrand competition. This is in contrast to a recent claim by Qin and Stuart (1997). The claim is based on the observation that the solution concept ESS behaves...