On the Equivalence of Nash and Evolutionary Equilibrium in Finite Populations
This paper provides sufficient and partially necessary conditions for the equivalence of Nash and evolutionary equilibrium in symmetric games played by finite populations. The focus is on symmetric equilibria in pure strategies. The conditions are based on properties of the payoff function that generalize the constant-sum property and the ”smallness” property, the latter of which is known from models of perfect competition and non-atomic, anonymous, or large games. The conditions are illustrated on examples of Bertrand and Cournot oligopoly games.
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- Alos-Ferrer, Carlos & Ania, Ana B., 2005.
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Discussion Papers in Economics
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"Evolutionary stability and Nash equilibrium in finite populations, with an application to price competition,"
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Elsevier, vol. 65(3-4), pages 472-488, March.
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- Carlos Alós-Ferrer & Ana Ania, 2005. "The evolutionary stability of perfectly competitive behavior," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 26(3), pages 497-516, October.
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- Vega-Redondo, Fernando (ed.), 1996. "Evolution, Games, and Economic Behaviour," OUP Catalogue, Oxford University Press, number 9780198774723.
- Fernando Vega Redondo, 1996.
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1996-05, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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