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On economic applications of evolutionary game theory

Author

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  • Daniel Friedman

    (Department of Economics, University of California at Santa Cruz, 212 Social Sciences I, Santa Cruz, CA 95064, USA)

Abstract

Evolutionary games have considerable unrealized potential for modeling substantive economic issues. They promise richer predictions than orthodox game models but often require more extensive specifications. This paper exposits the specification of evolutionary game models and classifies the possible asymptotic behavior for one and two dimensional models.

Suggested Citation

  • Daniel Friedman, 1998. "On economic applications of evolutionary game theory," Journal of Evolutionary Economics, Springer, vol. 8(1), pages 15-43.
    • Handle: RePEc:spr:joevec:v:8:y:1998:i:1:p:15-43
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    References listed on IDEAS

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    1. Benabou, R., 1991. "Location, Education, and Production," Working papers 582, Massachusetts Institute of Technology (MIT), Department of Economics.
    2. Cressman R., 1995. "Evolutionary Game Theory with Two Groups of Individuals," Games and Economic Behavior, Elsevier, vol. 11(2), pages 237-253, November.
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    7. Roland Benabou, 1993. "Workings of a City: Location, Education, and Production," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(3), pages 619-652.
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    More about this item

    Keywords

    Evolutionary games ; Adjustment dynamics ; ESS ; Evolutionary equilibrium;
    All these keywords.

    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games

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