Global Analysis of an Expectations Augmented Evolutionary Dynamics
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
|Date of creation:||Dec 2007|
|Date of revision:|
|Publication status:||Published in SMU Economics and Statistics Working Paper Series|
|Contact details of provider:|| Postal: 90 Stamford Road, Singapore 178903|
Phone: 65-6828 0832
Fax: 65-6828 0833
Web page: http://www.economics.smu.edu.sg/
More information through EDIRC
|Order Information:|| Email: |
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.:
- Lagunoff, Roger, 2000.
"On the Evolution of Pareto-Optimal Behavior in Repeated Coordination Problems,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 41(2), pages 273-93, May.
- Roger Lagunoff, 1997. "On the Evolution of Pereto Optimal Behavior in Repeated Coordination Problems," Game Theory and Information 9707003, EconWPA.
- Peter Diamond & Drew Fudenberg, 1987.
"Rational Expectations Business Cycles in Search Equilibrium,"
465, Massachusetts Institute of Technology (MIT), Department of Economics.
- Diamond, Peter & Fudenberg, Drew, 1989. "Rational Expectations Business Cycles in Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 97(3), pages 606-19, June.
- Fudenberg, Drew & Diamond, Peter, 1989. "Rational Expectations Business Cycles in Search Equilibrium," Scholarly Articles 3374509, Harvard University Department of Economics.
- Hommes, Cars & Sorger, Gerhard, 1998. "Consistent Expectations Equilibria," Macroeconomic Dynamics, Cambridge University Press, vol. 2(03), pages 287-321, September.
- Bischi, Gian Italo & Kopel, Michael, 2001. "Equilibrium selection in a nonlinear duopoly game with adaptive expectations," Journal of Economic Behavior & Organization, Elsevier, vol. 46(1), pages 73-100, September.
- Kiminori Matsuyama, 1991.
"Increasing Returns, Industrialization, and Indeterminacy of Equilibrium,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 106(2), pages 617-650.
- Kiminori Matsuyama, 1990. "Increasing Returns, Industrialization and Indeterminacy of Equilibrium," Discussion Papers 878, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Paul Krugman, 1991. "History versus Expectations," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 651-667.
- Hommes, Cars H., 1998. "On the consistency of backward-looking expectations: The case of the cobweb," Journal of Economic Behavior & Organization, Elsevier, vol. 33(3-4), pages 333-362, January.
- John Conlisk, 2001. "Costly Predation and the Distribution of Competence," American Economic Review, American Economic Association, vol. 91(3), pages 475-484, June.
- Frankel, David M. & Burdzy, Krzysztof & Pauzner, Ady, 2001.
"Fast Equilibrium Selection by Rational Players Living in a Changing World,"
Staff General Research Papers
11923, Iowa State University, Department of Economics.
- Burdzy, Krzysztof & Frankel, David M & Pauzner, Ady, 2001. "Fast Equilibrium Selection by Rational Players Living in a Changing World," Econometrica, Econometric Society, vol. 69(1), pages 163-89, January.
- Matsui, Akihiko & Oyama, Daisuke, 2006.
"Rationalizable foresight dynamics,"
Games and Economic Behavior,
Elsevier, vol. 56(2), pages 299-322, August.
- Akihiko Matsui & Daisuke Oyama, 2002. "Rationalizable Foresight Dynamics: Evolution and Rationalizability," Vienna Economics Papers 0302, University of Vienna, Department of Economics.
- Akihiko Matsui & Kiminori Matsuyama, 1990.
"An Approach to Equilibrium Selection,"
970, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Friedman, Daniel, 1991. "Evolutionary Games in Economics," Econometrica, Econometric Society, vol. 59(3), pages 637-66, May.
- Angelo Antoci & Pier Sacco, 1995. "A public contracting evolutionary game with corruption," Journal of Economics, Springer, vol. 61(2), pages 89-122, June.
When requesting a correction, please mention this item's handle: RePEc:siu:wpaper:25-2007. 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: (QL THor)
If references are entirely missing, you can add them using this form.