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We present attractiveness, a re…nement criterion for evolutionary equilibria. Equilibria surviving this criterion are robust to small perturbations of the underlying payoff system or the dynamics at hand. Furthermore, certain attractive equilibria are equivalent to others for certain...
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We present two new notions of evolutionary stability, the truly evolutionarily stable state (TESS) and the generalized evolutionarily stable equilibrium (GESE). The GESE generalizes the evolutionarily stable equilibrium (ESE) of Joosten [1996]. An ESE attracts all nearby trajectories...
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Agents interacting on a body of water choose between technologies to catch …fish. One is harmless to the resource, as it allows full recovery; the other yields high immediate catches, but low(er) future catches.… Strategic interaction in one 'objective' resource game may induce………………...
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We introduce a stochastic game in which transition probabilities depend on the history of the play, i.e., the players’ past action choices. To solve this new type of game under the limiting average reward criterion, we determine the set of jointly-convergent pure-strategy rewards which can be...
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Agents interacting on a body of water choose between technologies to catch fish. One is harmless to the resource, as it allows full recovery; the other yields high immediate catches, but low(er) future catches. Strategic interaction in one "objective" resource game may induce "subjective" games...
Persistent link: https://www.econbiz.de/10009152977