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Evolutionary foundations of aggregate-taking behavior

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  • Alex Possajennikov

Abstract

I show that aggregate-taking behavior is often evolutionarily stable for finite population in symmetric games in which payoff depends only on own strategy and an aggregate. I provide economic examples exhibiting this phenomenon. Copyright Springer-Verlag Berlin Heidelberg 2003

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File URL: http://hdl.handle.net/10.1007/s00199-002-0261-3
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Bibliographic Info

Article provided by Springer in its journal Economic Theory.

Volume (Year): 21 (2003)
Issue (Month): 4 (06)
Pages: 921-928

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Handle: RePEc:spr:joecth:v:21:y:2003:i:4:p:921-928

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Related research

Keywords: Keywords and Phrases: Evolution; Aggregate-taking; Aggregative games.; JEL Classification Numbers: C72.;

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Cited by:
  1. Schipper, Burkhard C., 2009. "Imitators and optimizers in Cournot oligopoly," Journal of Economic Dynamics and Control, Elsevier, vol. 33(12), pages 1981-1990, December.
  2. Peter Duersch & Joerg Oechssler & Burkhard Schipper, 2010. "Pure Strategy Equilibria in Symmetric Two-Player Zero-Sum Games," Working Papers 1021, University of California, Davis, Department of Economics.
  3. Peter Duersch & Albert Kolb & Jörg Oechssler & Burkhard Schipper, 2010. "Rage against the machines: how subjects play against learning algorithms," Economic Theory, Springer, vol. 43(3), pages 407-430, June.
  4. Acemoglu, Daron & Jensen, Martin Kaae, 2013. "Aggregate comparative statics," Games and Economic Behavior, Elsevier, vol. 81(C), pages 27-49.
  5. Burkhard Hehenkamp & Wolfgang Leininger & Alex Possajennikov, 2003. "Evolutionary Equilibrium in Tullock Contests: Spite and Overdissipation," Discussion Papers in Economics 03_01, University of Dortmund, Department of Economics.
  6. Birgitte Sloth & Hans Whitta-Jacobsen, 2011. "Economic Darwinism," Theory and Decision, Springer, vol. 70(3), pages 385-398, March.
  7. Duersch, Peter & Oechssler, Jörg & Schipper, Burkhard C., 2010. "Pure Saddle Points and Symmetric Relative Payoff Games," Working Papers 0500, University of Heidelberg, Department of Economics.
  8. Martin Jensen, 2010. "Aggregative games and best-reply potentials," Economic Theory, Springer, vol. 43(1), pages 45-66, April.
  9. Wolfgang Leininger, 2004. "Fending off one Means Fending off all: Evolutionary Stability in Submodular Games (new title: Fending off one means fending off all: evolutionary stability in quasi-submodular aggregative games)," CESifo Working Paper Series 1266, CESifo Group Munich.
  10. Schipper, Burkhard C., 2005. "The Evolutionary Stability of Optimism, Pessimism and Complete Ignorance," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 68, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  11. Carlos Alós-Ferrer & Fei Shi, 2012. "Imitation with asymmetric memory," Economic Theory, Springer, vol. 49(1), pages 193-215, January.

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