Global Analysis of an Expectations Augmented Evolutionary Dynamics
AbstractWe consider a deterministic evolutionary model where players form expectations about future play. Players are not fully rational and have expectations that change over time in response to current payoffs and feedback from the past. We provide a complete characterization of the qualitative dynamics so induced for a two strategies population game,and relate our findings to standard evolutionary dynamics and equilibrium selection when agents have rational forward looking expectations
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 Singapore Management University, School of Economics in its series Working Papers with number 25-2007.
Length: 32 pages
Date of creation: Dec 2007
Date of revision:
Publication status: Published in SMU Economics and Statistics Working Paper Series
Other versions of this item:
- Antoci, Angelo & Gay, Antonio & Landi, Massimiliano & Sacco, Pier Luigi, 2008. "Global analysis of an expectations augmented evolutionary dynamics," Journal of Economic Dynamics and Control, Elsevier, vol. 32(12), pages 3877-3894, December.
- Massimiliano Landi, 2007. "Global Analysis of an Expectations Augmented Evolutionary Dynamics," Development Economics Working Papers 22463, East Asian Bureau of Economic Research.
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-06-17 (All new papers)
- NEP-EVO-2009-06-17 (Evolutionary Economics)
- NEP-GTH-2009-06-17 (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.:
- Matsui, Akihiko & Oyama, Daisuke, 2006. "Rationalizable foresight dynamics," Games and Economic Behavior, Elsevier, vol. 56(2), pages 299-322, August.
- Bischi, Gian Italo & Kopel, Michael, 2001. "Equilibrium selection in a nonlinear duopoly game with adaptive expectations," Journal of Economic Behavior & Organization, Elsevier, vol. 46(1), pages 73-100, September.
- Fudenberg, Drew & Diamond, Peter, 1989.
"Rational Expectations Business Cycles in Search Equilibrium,"
3374509, Harvard University Department of Economics.
- Diamond, Peter & Fudenberg, Drew, 1989. "Rational Expectations Business Cycles in Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 97(3), pages 606-19, June.
- Peter Diamond & Drew Fudenberg, 1987. "Rational Expectations Business Cycles in Search Equilibrium," Working papers 465, Massachusetts Institute of Technology (MIT), Department of Economics.
- John Conlisk, 2001. "Costly Predation and the Distribution of Competence," American Economic Review, American Economic Association, vol. 91(3), pages 475-484, June.
- Akihiko Matsui & Kiminori Matsuyama, 1990.
"An Approach to Equilibrium Selection,"
970, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Akihiko Matsui & Kiminori Matsuyama, 1991. "An Approach to Equilibrium Selection," Discussion Papers 1065, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Matsui, A. & Matsuyama, K., 1991. "An Approach to Equilibrium Selection," Working Papers e-91-14, Hoover Institution, Stanford University.
- Friedman, Daniel, 1991. "Evolutionary Games in Economics," Econometrica, Econometric Society, vol. 59(3), pages 637-66, May.
- Angelo Antoci & Pier Sacco, 1995. "A public contracting evolutionary game with corruption," Journal of Economics, Springer, vol. 61(2), pages 89-122, June.
- Lagunoff, Roger, 2000.
"On the Evolution of Pareto-Optimal Behavior in Repeated Coordination Problems,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 41(2), pages 273-93, May.
- Roger Lagunoff, 1997. "On the Evolution of Pereto Optimal Behavior in Repeated Coordination Problems," Game Theory and Information 9707003, EconWPA.
- Hommes, Cars & Sorger, Gerhard, 1998. "Consistent Expectations Equilibria," Macroeconomic Dynamics, Cambridge University Press, vol. 2(03), pages 287-321, September.
- Frankel, David M. & Burdzy, Krzysztof & Pauzner, Ady, 2001.
"Fast Equilibrium Selection by Rational Players Living in a Changing World,"
Staff General Research Papers
11923, Iowa State University, Department of Economics.
- Burdzy, Krzysztof & Frankel, David M & Pauzner, Ady, 2001. "Fast Equilibrium Selection by Rational Players Living in a Changing World," Econometrica, Econometric Society, vol. 69(1), pages 163-89, January.
- Hommes, Cars H., 1998. "On the consistency of backward-looking expectations: The case of the cobweb," Journal of Economic Behavior & Organization, Elsevier, vol. 33(3-4), pages 333-362, January.
- Krugman, Paul, 1991. "History versus Expectations," The Quarterly Journal of Economics, MIT Press, vol. 106(2), pages 651-67, May.
- Pedro, de Mendonça, 2009. "Self-Enforcing Climate Change Treaties: A Generalized Differential Game Approach with Applications," MPRA Paper 17889, University Library of Munich, Germany.
- Josephson, Jens, 2001.
"Stochastic Adaptation in Finite Games Played by Heterogeneous Populations,"
Working Paper Series in Economics and Finance
475, Stockholm School of Economics.
- Josephson, Jens, 2009. "Stochastic adaptation in finite games played by heterogeneous populations," Journal of Economic Dynamics and Control, Elsevier, vol. 33(8), pages 1543-1554, August.
- Oyama, Daisuke, 2009.
"Agglomeration under forward-looking expectations: Potentials and global stability,"
Regional Science and Urban Economics,
Elsevier, vol. 39(6), pages 696-713, November.
- Oyama, Daisuke, 2006. "Agglomeration under Forward-Looking Expectations: Potentials and Global Stability," MPRA Paper 15239, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (QL THor).
If references are entirely missing, you can add them using this form.