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
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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)
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