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On the Equivalence of Nash and Evolutionary Equilibrium in Finite Populations

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Author Info
Tobias Guse (Department of Economics and Social Sciences, University of Dortmund)
Burkhard Hehenkamp () (Department of Economics and Social Sciences, University of Dortmund)
Alex Possajennikov () (School of Economics, University of Nottingham)

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Abstract

This paper provides sufficient and partially necessary conditions for the equivalence of Nash and evolutionary equilibrium in symmetric games played by finite populations. The focus is on symmetric equilibria in pure strategies. The conditions are based on properties of the payoff function that generalize the constant-sum property and the ”smallness” property, the latter of which is known from models of perfect competition and non-atomic, anonymous, or large games. The conditions are illustrated on examples of Bertrand and Cournot oligopoly games.

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Publisher Info
Paper provided by The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham in its series Discussion Papers with number 2008-06.

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Date of creation: Apr 2008
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Handle: RePEc:cdx:dpaper:2008-06

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Related research
Keywords: Nash equilibrium Evolutionary stability Finite populations

Find related papers by JEL classification:
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games

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  1. Hehenkamp, B. & Leininger, W. & Possajennikov, A., 2004. "Evolutionary equilibrium in Tullock contests: spite and overdissipation," European Journal of Political Economy, Elsevier, vol. 20(4), pages 1045-1057, November. [Downloadable!] (restricted)
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  2. James Bergin & Dan Bernhardt, 2004. "Comparative Learning Dynamics," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 45(2), pages 431-465, 05. [Downloadable!] (restricted)
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This page was last updated on 2008-7-4.

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