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On the Equivalence of Nash and Evolutionary Equilibrium in Finite Populations

  • Tobias Guse

    (Department of Economics and Social Sciences, University of Dortmund)

  • Burkhard Hehenkamp

    ()

    (Department of Economics and Social Sciences, University of Dortmund)

  • Alex Possajennikov

    ()

    (School of Economics, University of Nottingham)

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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Paper provided by The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham in its series Discussion Papers with number 2008-06.

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Date of creation: Apr 2008
Date of revision:
Handle: RePEc:not:notcdx:2008-06
Contact details of provider: Postal: School of Economics University of Nottingham University Park Nottingham NG7 2RD
Phone: (44) 0115 951 5620
Fax: (0115) 951 4159
Web page: http://www.nottingham.ac.uk/economics/cedex/

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  1. Tanaka, Yasuhito, 2000. "Stochastically stable states in an oligopoly with differentiated goods: equivalence of price and quantity strategies," Journal of Mathematical Economics, Elsevier, vol. 34(2), pages 235-253, October.
  2. Fernando Vega Redondo, 1996. "The evolution of walrasian behavior," Working Papers. Serie AD 1996-05, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  3. Ania, Ana B., 2008. "Evolutionary stability and Nash equilibrium in finite populations, with an application to price competition," Journal of Economic Behavior & Organization, Elsevier, vol. 65(3-4), pages 472-488, March.
  4. Burkhard Hehenkamp & Wolfgang Leininger & Alex Possajennikov, 2003. "Evolutionary Equilibrium in Tullock Contests: Spite and Overdissipation," Discussion Papers in Economics 03_01, University of Dortmund, Department of Economics.
  5. Carlos Alós-Ferrer & Ana B. Ania, 2003. "The Asset Market Game," Vienna Economics Papers 0320, University of Vienna, Department of Economics.
  6. Schaffer, Mark E., 1989. "Are profit-maximisers the best survivors? : A Darwinian model of economic natural selection," Journal of Economic Behavior & Organization, Elsevier, vol. 12(1), pages 29-45, August.
  7. Carlos Alós-Ferrer & Ana Ania, 2005. "The evolutionary stability of perfectly competitive behavior," Economic Theory, Springer, vol. 26(3), pages 497-516, October.
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