Evolutionary stability in finite stopping games under a fast best-reply dynamics
We consider a fast evolutionary dynamic process on finite stopping games, where each player at each node has at most one move to continue the game. A state is evolutionarily stable if its long-run relative frequency of occurrence is bounded away from zero as the mutation rate decreases to zero. The fast dynamic process allows each individual in each population to change its strategy at every stage. We define a robustness index of backward induction and show examples where the backward induction equilibrium component is not evolutionarily stable for large populations. We show some sufficient conditions for evolutionary stability, which are different from the ones for the conventional evolutionary model. Even for this fast dynamic process, the transition between any two Nash equilibrium components may take very long time.
|Date of creation:||Jan 2013|
|Contact details of provider:|| Postal: Feldman Building - Givat Ram - 91904 Jerusalem|
Web page: http://www.ratio.huji.ac.il/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- M. Kandori & G. Mailath & R. Rob, 1999.
"Learning, Mutation and Long Run Equilibria in Games,"
Levine's Working Paper Archive
500, David K. Levine.
- Kandori, Michihiro & Mailath, George J & Rob, Rafael, 1993. "Learning, Mutation, and Long Run Equilibria in Games," Econometrica, Econometric Society, vol. 61(1), pages 29-56, January.
- Kandori, M. & Mailath, G.J., 1991. "Learning, Mutation, And Long Run Equilibria In Games," Papers 71, Princeton, Woodrow Wilson School - John M. Olin Program.
- Hart, Sergiu, 2002.
"Evolutionary dynamics and backward induction,"
Games and Economic Behavior,
Elsevier, vol. 41(2), pages 227-264, November.
When requesting a correction, please mention this item's handle: RePEc:huj:dispap:dp632. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Tomer Siedner)
If references are entirely missing, you can add them using this form.