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Global Analysis of an Expectations Augmented Evolutionary Dynamics

Author

Listed:
  • Angelo Antoci

    (Department of Economics, University of Sassari)

  • Antonio Gay

    (University of Florence)

  • Massimiliano Landi

    (School of Economics, Singapore Management University)

  • Pier Luigi Sacco

    (IUAV, Venice)

Abstract

We consider a deterministic evolutionary model where players form expectations about future play. Players are not fully rational and have expectations that change over time in response to current payoffs and feedback from the past. We provide a complete characterization of the qualitative dynamics so induced for a two strategies population game,and relate our findings to standard evolutionary dynamics and equilibrium selection when agents have rational forward looking expectations

Suggested Citation

  • Angelo Antoci & Antonio Gay & Massimiliano Landi & Pier Luigi Sacco, 2007. "Global Analysis of an Expectations Augmented Evolutionary Dynamics," Working Papers 25-2007, Singapore Management University, School of Economics.
  • Handle: RePEc:siu:wpaper:25-2007
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    References listed on IDEAS

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    Cited by:

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    2. Pedro, de Mendonça, 2009. "Self-Enforcing Climate Change Treaties: A Generalized Differential Game Approach with Applications," MPRA Paper 17889, University Library of Munich, Germany.
    3. Oyama, Daisuke, 2009. "Agglomeration under forward-looking expectations: Potentials and global stability," Regional Science and Urban Economics, Elsevier, vol. 39(6), pages 696-713, November.

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    More about this item

    Keywords

    evolutionary games; dynamic systems; bounded rationality;
    All these keywords.

    JEL classification:

    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games

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