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Waiting times in evolutionary dynamics with time-decreasing noise

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  • Katsuhiko Aiba

Abstract

Expected waiting times for equilibrium selection are exponentially increasing as the noise level goes to zero in evolutionary models with time-constant noise, raising questions about whether the history independent prediction of equilibrium selection is relevant in economic and social studies. However, by using the theoretical results on simulated annealing, we show that expected waiting times in models with time-decreasing noise need not tend toward infinity in the small noise limit. Our model thus describes conditions under which the waiting-time critique of the predictions of stochastic stability theory may have less force. Copyright Springer-Verlag Berlin Heidelberg 2015

Suggested Citation

  • Katsuhiko Aiba, 2015. "Waiting times in evolutionary dynamics with time-decreasing noise," International Journal of Game Theory, Springer;Game Theory Society, vol. 44(2), pages 499-514, May.
    • Handle: RePEc:spr:jogath:v:44:y:2015:i:2:p:499-514
    DOI: 10.1007/s00182-014-0442-x
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    References listed on IDEAS

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    Cited by:

    1. Konstantin Avrachenkov & Vivek S. Borkar, 2019. "Metastability in Stochastic Replicator Dynamics," Dynamic Games and Applications, Springer, vol. 9(2), pages 366-390, June.

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    More about this item

    Keywords

    Evolutionary game theory; Waiting times; Simulated annealing; C61; C72; C73;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • 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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