This paper introduces the class of mean defined supermodular games. The characteristic feature of these games is that, given an order on the strategy sets of the players, the payoff to each player depends on his own strategy and the average of the population play. We characterise the set of the Nash equilibria and analyse their dynamic properties under payoff monotonic selection dynamics. Weak Nash equilibria, both in pure and mixed strategies, are unstable. The only asymptotically stable equilibria of the game are symmetric strict equilibria where each player uses the same strategy. We show that the strategies that do not survive the process of iterated deletion of strictly dominated strategies vanish in the long run. As a corollary to this latter result, we show that if the game is dominance solvable then the dynamics converges from any initial interior state.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. 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.
Publisher Info
Paper provided by Department of Economics, University of York in its series Discussion Papers with number
99/37.
Length: Date of creation: Date of revision: Handle: RePEc:yor:yorken:99/37
Contact details of provider: Postal: Department of Economics and Related Studies, University of York, York, YO10 5DD, United Kingdom Phone: (0)1904 433776 Fax: (0)1904 433759 Email: Web page: http://www.york.ac.uk/depts/econ/ More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Michael Shallcross).
References listed on IDEAS 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.:
Cabrales, Antonio, 2000.
"Stochastic Replicator Dynamics,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 41(2), pages 451-81, May.
Other versions:
Cited by: (explanations, 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.)