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On the Existence of Pareto Optimal Endogenous Matching

Author

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  • Darong Dai

    (Nanjing University, Nanjing, China)

Abstract

In the current paper, we study the asymmetric normal-form game between two heterogeneous groups of populations by employing the stochastic replicator dynamics driven by Lévy process. A new game equilibrium, i.e., the game equilibrium of a stochastic differential cooperative game on time, is derived by introducing optimal-stopping technique into evolutionary game theory, which combines with the Pareto optimal standard leads us to the existence of Pareto optimal endogenous matching.

Suggested Citation

  • Darong Dai, 2012. "On the Existence of Pareto Optimal Endogenous Matching," Economic Research Guardian, Weissberg Publishing, vol. 2(2), pages 201-224, December.
    • Handle: RePEc:wei:journl:v:2:y:2012:i:2:p:201-224
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    More about this item

    Keywords

    Stochastic differential cooperative game on time; Endogenous matching; Fair matching; Pareto optimality; Adaptive learning;
    All these keywords.

    JEL classification:

    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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