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Equilibrium, Evolutionary Stability And Gradient Dynamics

Author

Listed:
  • SJUR DIDRIK FLÅM

    (Department of Economics, University of Bergen and Norwegian School of Economics and Business Administration, Norway)

Abstract

Considered here are equilibria, notably those that solve noncooperative games. Focus is on connections between evolutionary stability, concavity and monotonicity. It is shown that evolutionary stable points are local attractors under gradient dynamics. Such dynamics, while reflecting search for individual improvement, can incorporate myopia, imperfect knowledge and bounded rationality/competence.

Suggested Citation

  • Sjur Didrik Flåm, 2002. "Equilibrium, Evolutionary Stability And Gradient Dynamics," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 4(04), pages 357-370.
    • Handle: RePEc:wsi:igtrxx:v:04:y:2002:i:04:n:s0219198902000756
    DOI: 10.1142/S0219198902000756
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    More about this item

    Keywords

    Equilibrium problems; noncooperative games; evolutionary and asymptotic stability; gradient dynamics; concavity; monotonicity; JEL classification C62; JEL classification C72;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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