Evolution towards asymptotic efficiency, preliminary version
AbstractWe show that in long repeated games, or in infinitely repeated games with discount rate close to one, payoffs corresponding to evolutionary stable sets are asymptotically efficient, as intuition suggests. Actions played at the beginning of the game are used as messages that allow players to coordinate on Pareto optimal outcomes in the following stages. The result builds a bridge between the theory of repeated games and that of communication games.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University of Pavia, Department of Economics and Quantitative Methods in its series Quaderni di Dipartimento with number 173.
Length: 49 pages
Date of creation: May 2012
Date of revision:
Contact details of provider:
Postal: Via S. Felice, 5 - 27100 Pavia
Web page: http://dipartimenti.unipv.eu/on-dip/epmq/Home.html
More information through EDIRC
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-06-05 (All new papers)
- NEP-EVO-2012-06-05 (Evolutionary Economics)
- NEP-GTH-2012-06-05 (Game Theory)
- NEP-HPE-2012-06-05 (History & Philosophy of Economics)
- NEP-MIC-2012-06-05 (Microeconomics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Demichelis, Stefano & Ritzberger, Klaus, 2003.
"From evolutionary to strategic stability,"
Journal of Economic Theory,
Elsevier, vol. 113(1), pages 51-75, November.
- Fudenberg, Drew & Dreber, Anna & Rand, David G. & Nowak, Martin, 2008. "Winners Don't Punish," Scholarly Articles 2252594, Harvard University Department of Economics.
- Demichelis, Stefano & Ritzberger, Klaus & Swinkels, Jeroen M., 2002.
"The Simple Geometry of Perfect Information Games,"
115, Institute for Advanced Studies.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Paolo Bonomolo).
If references are entirely missing, you can add them using this form.