Evolutionarily Stable Preferences in Contests
AbstractWe define an indirect evolutionary approach formally and apply it to (Tullock)contests. While it is known (Leininger, 2003) that the direct evolutionary approach in the form of finite population ESS (Schaffer, 1988) yields more aggressive behavior than in Nash equilibrium, it is now shown that the indirect evolutionary approach yields the same more aggressive behavior, too. This holds for any population size N, if evolution of preferences is determined by behavior in two-player contests. The evolutionarily stable preferences (ESP) of the indirect approach turn out to be negatively interdependent, thereby “rationalizing” the more aggressive behavior.
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Bibliographic InfoPaper provided by Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen in its series Ruhr Economic Papers with number 0049.
Length: 24 pages
Date of creation: Jul 2008
Date of revision:
Find related papers by JEL classification:
- C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-08-21 (All new papers)
- NEP-EVO-2008-08-21 (Evolutionary Economics)
- NEP-GTH-2008-08-21 (Game Theory)
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.:
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- Armen A. Alchian, 1950. "Uncertainty, Evolution, and Economic Theory," Journal of Political Economy, University of Chicago Press, vol. 58, pages 211.
- Kockesen, Levent & Ok, Efe A. & Sethi, Rajiv, 2000.
"Evolution of Interdependent Preferences in Aggregative Games,"
Games and Economic Behavior,
Elsevier, vol. 31(2), pages 303-310, May.
- Kockesen, L. & Ok, E.A. & Sethi, R., 1998. "Evolution of Interdependent Preferences in Aggregative Games," Working Papers 98-19, C.V. Starr Center for Applied Economics, New York University.
- Jorgen W. Weibull, 1997. "Evolutionary Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262731215, December.
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