On Evolution, Subgame Perfection and Retaliation
Two approaches to equilibrium selection are contrasted in the context of an investment-opportunism-retaliation (IOR) game. In this game, a valuable (efficient) investment may be forgone in the face of opportunistic behavior, however, players who are victims of opportunism may retaliate to the detriment of both players. In this environment, we compare sub-game perfection with the notion of evolutionary stability.
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|Date of creation:||1996|
|Date of revision:|
|Contact details of provider:|| Postal: Department of Economics, Simon Fraser University, 8888 University Drive, Burnaby, BC, V5A 1S6, Canada|
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