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We present two new notions of evolutionary stability, the trulyevolutionarily stable state (TESS) and the generalized evolutionarilystable equilibrium (GESE). The GESE generalizes the evolutionar-ily stable equilibrium (ESE) of Joosten [1996]. An ESE attracts allnearby trajectories...
Persistent link: https://www.econbiz.de/10009022153
This paper provides an in-depth study of the (most) refined best reply correspondence introduced by Balkenborg, Hofbauer, and Kuzmics (2012). An example demonstrates that this correspondence can be very different from the standard best reply correspondence. In two-player games, however, the...
Persistent link: https://www.econbiz.de/10009523194
Local interactions refer to social and economic phenomena where individuals' choices are influenced by the choices of others who are 'close' to them socially or geographically. This represents a fairly accurate picture of human experience. Furthermore, since local interactions imply particular...
Persistent link: https://www.econbiz.de/10013137815
This paper presents a complete survey of the use of homotopy methods in game theory. Homotopies allow for a robust computation of game-theoretic equilibria and their refinements. Homotopies are also suitable to compute equilibria that are selected by various selection theories. We present all...
Persistent link: https://www.econbiz.de/10013124577
Through building the statistical structure of game theory, this paper develops a paradigm of rationality and equilibrium to model collective and interactive behaviors for various economic ecologies from a perfect organizing corporation to a complete freedom population such as an anarchy. In...
Persistent link: https://www.econbiz.de/10013015892
We show that in the canonical non-cooperative multilateral bargaining game, a subgame perfect equilibrium exists in pure stationary strategies, even when the space of feasible payoffs is not convex. At such an equilibrium there is no delay. We also have the converse result that randomization...
Persistent link: https://www.econbiz.de/10013155420
Subgame perfect equilibrium in stationary strategies (SSPE) is the most important solution concept used in applications of stochastic games, which makes it imperative to develop efficient numerical methods to compute an SSPE. For this purpose, this paper develops an interior-point path-following...
Persistent link: https://www.econbiz.de/10012840979
We analyze a class of imitation dynamics with mutations for games with any finite number of actions, and give conditions for the selection of a unique equilibrium as the mutation rate becomes small and the population becomes large. Our results cover the multiple-action extensions of the...
Persistent link: https://www.econbiz.de/10012728635
We study games with almost perfect information and an infinite time horizon. In such games, at each stage, the players simultaneously choose actions from finite action sets, knowing the actions chosen at all previous stages. The payoff of each player is a function of all actions chosen during...
Persistent link: https://www.econbiz.de/10012894605
We propose a model of coupled population games where intra- and intergroup interactions overlap. We analyze the general class of symmetric 2x2 games with coupled replicator dynamics. Standard one- and two-population predictions extend to a total of ten regions with different sets of attractors,...
Persistent link: https://www.econbiz.de/10012897695