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Lyapunov Stability in an Evolutionary Game Theory Model of the Labor Market

  • Araujo, Ricardo Azevedo
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    In this paper the existence and stability of equilibria in an evolutionary game theory model of the labor market is studied by using the Lyapunov method. The model display multiple equilibria and it is shown that the Nash Equilibria of the static game are evolutionary stable equilibria in the game theory evolutionary set up. In this vein a complete characterization of the dynamics of an evolutionary model of the labor market is provided.

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    File URL: https://mpra.ub.uni-muenchen.de/29957/1/MPRA_paper_29957.pdf
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    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 29957.

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    Date of creation: Mar 2011
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    Handle: RePEc:pra:mprapa:29957
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    1. Hendricks, Lutz, . "Equipment Investment and Growth In Developing Countries," Working Papers 97/5, Arizona State University, Department of Economics.
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    14. Fiess, Norbert M. & Fugazza, Marco & Maloney, William F., 2010. "Informal self-employment and macroeconomic fluctuations," Journal of Development Economics, Elsevier, vol. 91(2), pages 211-226, March.
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    16. Loayza, Norman V. & Oviedo, Ana Maria & Serven, Luis, 2005. "The impact of regulation on growth and informality - cross-country evidence," Policy Research Working Paper Series 3623, The World Bank.
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