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Evolution and Information in a Prisoner's Dilemma Game

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  • Phillip Johnson
  • David K Levine
  • Wolfgang Pesendorfer

Abstract

In an environment of anonymous random matching, Kandori [1992] showed that with a sufficiently rich class of simple information systems the folk theorem holds. We specialize to the Prisoner's Dilemma and examine the stochastic stability of a process of learning and evolution in this setting. If the benefit of future cooperation is too small, then there is no cooperation. When the benefit of cooperation is large then only cooperation will survive in the very long run.
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Suggested Citation

  • Phillip Johnson & David K Levine & Wolfgang Pesendorfer, 1998. "Evolution and Information in a Prisoner's Dilemma Game," Levine's Working Paper Archive 2138, David K. Levine.
    • Handle: RePEc:cla:levarc:2138
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