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Evolutionarily Stable Correlation

  • Kam-Chau Wong
  • Chongmin Kim
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    Most existing results of evolutionary games restrict only to the Nash equilibrium. This paper introduces the analogue of evolutionarily stable strategy (ESS) for correlated equilibria. We introduce a new notion of evolutionarily stable correlation (ESC) and prove that it generalizes ESS. We also study analogues of perfection (cf. Dhillon and Mertens (1994)), properness, and replicator dynamics for the correlation equilibrium and discuss their relationships with ESC

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    File URL: http://repec.org/esFEAM04/up.16804.1077678412.pdf
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    Paper provided by Econometric Society in its series Econometric Society 2004 Far Eastern Meetings with number 495.

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    Date of creation: 11 Aug 2004
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    Handle: RePEc:ecm:feam04:495
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    1. Sergiu Hart & Andreu Mas-Colell, 1997. "A Simple Adaptive Procedure Leading to Correlated Equilibrium," Game Theory and Information 9703006, EconWPA, revised 24 Mar 1997.
    2. R. Aumann, 2010. "Correlated Equilibrium as an expression of Bayesian Rationality," Levine's Bibliography 513, UCLA Department of Economics.
    3. Forges, Francoise & Peck, James, 1995. "Correlated Equilibrium and Sunspot Equilibrium," Economic Theory, Springer, vol. 5(1), pages 33-50, January.
    4. Jorgen W. Weibull, 1997. "Evolutionary Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262731215, June.
    5. R. Myerson, 2010. "Refinement of the Nash Equilibrium Concept," Levine's Working Paper Archive 537, David K. Levine.
    6. David Kreps & Robert Wilson, 1998. "Sequential Equilibria," Levine's Working Paper Archive 237, David K. Levine.
    7. Swinkels, Jeroen M., 1992. "Evolutionary stability with equilibrium entrants," Journal of Economic Theory, Elsevier, vol. 57(2), pages 306-332, August.
    8. George J. mailath & Larry Samuelson & Avner Shaked, . "Correlated Equilibria and Local Interactions," ELSE working papers 030, ESRC Centre on Economics Learning and Social Evolution.
    9. R. Aumann, 2010. "Subjectivity and Correlation in Randomized Strategies," Levine's Working Paper Archive 389, David K. Levine.
    10. Dhillon, Amrita & Mertens, Jean Francois, 1996. "Perfect Correlated Equilibria," Journal of Economic Theory, Elsevier, vol. 68(2), pages 279-302, February.
    11. Fudenberg, Drew & Levine, David K., 1999. "Conditional Universal Consistency," Games and Economic Behavior, Elsevier, vol. 29(1-2), pages 104-130, October.
    12. Cripps, Martin, 1991. "Correlated equilibria and evolutionary stability," Journal of Economic Theory, Elsevier, vol. 55(2), pages 428-434, December.
    13. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
    14. Myerson, Roger B., 1994. "Communication, correlated equilibria and incentive compatibility," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 2, chapter 24, pages 827-847 Elsevier.
    15. Ianni, Antonella, 2001. "Learning correlated equilibria in population games," Mathematical Social Sciences, Elsevier, vol. 42(3), pages 271-294, November.
    16. Foster, Dean P. & Vohra, Rakesh V., 1997. "Calibrated Learning and Correlated Equilibrium," Games and Economic Behavior, Elsevier, vol. 21(1-2), pages 40-55, October.
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