Showing 1 - 10 of 99,551
We consider a basic stochastic evolutionary model with rare mutation and a best-reply (or better-reply) selection mechanism. Following Young's papers, we call a state stochastically stable if its long-term relative frequency of occurrence is bounded away from zero as the mutation rate decreases...
Persistent link: https://www.econbiz.de/10009727120
Persistent link: https://www.econbiz.de/10011957096
Adaptive dynamics is a mathematical framework for studying evolution. It extends evolutionary game theory to account for more realistic ecological dynamics and it can incorporate both frequency- and density-dependent selection. This is a practical guide to adaptive dynamics that aims to...
Persistent link: https://www.econbiz.de/10009785435
In a coordination game such as the Battle of the Sexes, agents can condition their plays on external signals that can, in theory, lead to a Correlated Equilibrium that can improve the overall payoffs of the agents. Here we explore whether boundedly rational, adaptive agents can learn to...
Persistent link: https://www.econbiz.de/10011515836
Cooperation in social dilemmas plays a pivotal role in the formation of systems at all levels of complexity, from replicating molecules to multi-cellular organisms to human and animal societies. In spite of its ubiquity, the origin and stability of cooperation pose an evolutionary conundrum,...
Persistent link: https://www.econbiz.de/10012432254
Persistent link: https://www.econbiz.de/10010442447
Poker is a game of skill, much like chess or go, but distinct as an incomplete information game. Substantial work has been done to understand human play in poker, as well as the optimal strategies in poker. Evolutionary game theory provides another avenue to study poker by considering...
Persistent link: https://www.econbiz.de/10014443305
Persistent link: https://www.econbiz.de/10012584552
The paper presents an evolutionary model, based on the assumption that agents may revise their current strategies if they previously failed to attain the maximum level of potential payoffs. We offer three versions of this reflexive mechanism, each one of which describes a distinct type:...
Persistent link: https://www.econbiz.de/10010338167
Persistent link: https://www.econbiz.de/10000614703