On Evolution, Subgame Perfection and Retaliation
AbstractTwo approaches to equilibrium selection are contrasted in the context of an investment-opportunism-retaliation (IOR) game. In this game, a valuable (efficient) investment may be forgone in the face of opportunistic behavior, however, players who are victims of opportunism may retaliate to the detriment of both players. In this environment, we compare sub-game perfection with the notion of evolutionary stability.
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Bibliographic InfoPaper provided by Department of Economics, Simon Fraser University in its series Discussion Papers with number dp96-07.
Length: 21 pages
Date of creation: 1996
Date of revision:
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Postal: Department of Economics, Simon Fraser University, 8888 University Drive, Burnaby, BC, V5A 1S6, Canada
Web page: http://www.sfu.ca/economics.html
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Postal: Working Paper Coordinator, Department of Economics, Simon Fraser University, 8888 University Drive, Burnaby, BC, V5A 1S6, Canada
Find related papers by JEL classification:
- D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
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