Traits, Imitation, and Evolutionary Dynamics
AbstractIn this article, a modelling framework for the information transmission between agents in an evolutionary game setting is proposed. Agents observe traits which reflect past and present behaviour and success of other agents. If agents imitate more successful agents based on these traits, the resulting dynamics are a multivariate stochastic process. An example for such a process is simulated. The results resemble the replicator dynamics to a remarkable degree. If traits moderately depend on the past, this accelerates convergence of the dynamics towards a stable state. If the dependence is strong, the stable state is not reached.
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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 849.
Length: 20 pages
Date of creation: Aug 2003
Date of revision:
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Other versions of this item:
- Wendelin Schnedler, 2003. "Traits, Imitation and Evolutionary Dynamics," The Centre for Market and Public Organisation 03/081, Department of Economics, University of Bristol, UK.
- Wendelin Schnedler, 2003. "Traits, Imitation, and Evolutionary Dynamics," Bonn Econ Discussion Papers bgse15_2003, University of Bonn, Germany.
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-08-17 (All new papers)
- NEP-CMP-2003-08-17 (Computational Economics)
- NEP-GTH-2003-08-17 (Game Theory)
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