Evolutionary Stability for Large Populations
AbstractIt has been shown (Hart ) that the backward induction (or subgame-perfect) equilibrium of a perfect information game is the unique stable outcome for dynamic models consisting of selection and mutation, when the mutation rate is low and the populations are large, under the assumption that the expected number of mutations per generation is bounded away from zero. Here it is shown that one can dispense with this last condition. In particular, it follows that the backward induction equilibrium is evolutionarily stable for large populations.
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Bibliographic InfoPaper provided by The Center for the Study of Rationality, Hebrew University, Jerusalem in its series Discussion Paper Series with number dp312.
Length: 32 pages
Date of creation: Apr 2003
Date of revision:
Publication status: Published in Mathematics of Operation Research, 2006, vol. 31, pp. 369-380.
Evolutionary Dynamics; Evolutionary Stability; Markov Chains; Transition Times; Backward Induction Equilibrium; Large Populations;
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- Noeldecke,Georg & Samuelson,Larry, .
"An evolutionary analysis of backward and forward induction,"
Discussion Paper Serie B
228, University of Bonn, Germany.
- Noldeke Georg & Samuelson Larry, 1993. "An Evolutionary Analysis of Backward and Forward Induction," Games and Economic Behavior, Elsevier, vol. 5(3), pages 425-454, July.
- G. Noldeke & L. Samuelson, 2010. "An Evolutionary Analysis of Backward and Forward Induction," Levine's Working Paper Archive 538, David K. Levine.
- Hart, Sergiu, 2002.
"Evolutionary dynamics and backward induction,"
Games and Economic Behavior,
Elsevier, vol. 41(2), pages 227-264, November.
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