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Evolutionarily Stable Correlation

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Author Info
Kam-Chau Wong
Chongmin Kim
Abstract

Most existing results of evolutionary games restrict only to the Nash equilibrium. This paper introduces the analogue of evolutionarily stable strategy (ESS) for correlated equilibria. We introduce a new notion of evolutionarily stable correlation (ESC) and prove that it generalizes ESS. We also study analogues of perfection (cf. Dhillon and Mertens (1994)), properness, and replicator dynamics for the correlation equilibrium and discuss their relationships with ESC

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Paper provided by Econometric Society in its series Econometric Society 2004 Far Eastern Meetings with number 495.

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Date of creation: 11 Aug 2004
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Handle: RePEc:ecm:feam04:495

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Related research
Keywords: Correlated Equilibrium; Evolutionarily Stable Correlation; Evolutionarily Stable State; Random Device;

Find related papers by JEL classification:
C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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  13. Jorgen W. Weibull, 1997. "Evolutionary Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262731215.
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  15. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January. [Downloadable!] (restricted)
  16. Roger B. Myerson, 1977. "Refinements of the Nash Equilibrium Concept," Discussion Papers 295, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
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