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Evolutionarily Stable Correlation

Author

Listed:
  • Chongmin Kim

    (Kookmin University)

  • Kam-Chau Wong

    (Chinese University of Hong Kong)

Abstract

Most results of evolutionary games are restricted only to the Nash equilibrium. In this paper, we introduce an analogue of the evolutionarily stable strategy (ESS) for correlated equilibria. We introduce a new concept―the evolutionarily stable correlation (ESC)―and prove that it generalizes the ESS. We also study analogues of perfection and properness for correlated equilibria and discuss their relationships with the ESC.

Suggested Citation

  • Chongmin Kim & Kam-Chau Wong, 2017. "Evolutionarily Stable Correlation," Korean Economic Review, Korean Economic Association, vol. 33, pages 55-94.
    • Handle: RePEc:kea:keappr:ker-20170630-33-1-03
    as

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    File URL: http://keapaper.kea.ne.kr/RePEc/kea/keappr/KER-20170630-33-1-03.pdf
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    References listed on IDEAS

    as
    1. Cripps, Martin, 1991. "Correlated equilibria and evolutionary stability," Journal of Economic Theory, Elsevier, vol. 55(2), pages 428-434, December.
    2. Swinkels, Jeroen M., 1992. "Evolutionary stability with equilibrium entrants," Journal of Economic Theory, Elsevier, vol. 57(2), pages 306-332, August.
    3. Sergiu Hart & Andreu Mas-Colell, 2013. "A Simple Adaptive Procedure Leading To Correlated Equilibrium," World Scientific Book Chapters, in: Simple Adaptive Strategies From Regret-Matching to Uncoupled Dynamics, chapter 2, pages 17-46, World Scientific Publishing Co. Pte. Ltd..
    4. Aumann, Robert J, 1987. "Correlated Equilibrium as an Expression of Bayesian Rationality," Econometrica, Econometric Society, vol. 55(1), pages 1-18, January.
    5. Aumann, Robert J., 1974. "Subjectivity and correlation in randomized strategies," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 67-96, March.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Correlated Equilibrium; Evolutionarily Stable Correlation; Evolutionarily Stable State; Perfect Correlated Equilibrium; Proper Correlated Equilibrium;
    All these keywords.

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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