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On a General class of stochastic co-evolutionary dynamics

This paper presents a unified framework to study the co-evolution of networks and play, using the language of evolutionary game theory. We show by examples that the set-up is rich enough to encompass many recent models discussed by the literature. We completely characterize the invariant distribution of such processes and show how to calculate stochastically stable states by means of a treecharacterization algorithm. Moreover, specializing the process a bit further allows us to completely characterize the generated random graph ensemble. This new result demonstrates a new and rather general relation between random graph theory and evolutionary models with endogenous interaction structures.

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File URL: http://homepage.univie.ac.at/Papers.Econ/RePEc/vie/viennp/vie1001.pdf
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Paper provided by University of Vienna, Department of Economics in its series Vienna Economics Papers with number 1001.

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Date of creation: Feb 2010
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Handle: RePEc:vie:viennp:1001
Contact details of provider: Web page: http://www.univie.ac.at/vwl

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  1. L. Blume, 2010. "The Statistical Mechanics of Strategic Interaction," Levine's Working Paper Archive 488, David K. Levine.
  2. George Ehrhardt & Matteo Marsili & Fernando Vega-Redondo, 2008. "Networks Emerging in a Volatile World," Economics Working Papers ECO2008/08, European University Institute.
  3. Staudigl, Mathias, 2011. "Potential games in volatile environments," Games and Economic Behavior, Elsevier, vol. 72(1), pages 271-287, May.
  4. Kandori, Michihiro & Mailath, George J & Rob, Rafael, 1993. "Learning, Mutation, and Long Run Equilibria in Games," Econometrica, Econometric Society, vol. 61(1), pages 29-56, January.
  5. J Bergin & B L Lipman, 1997. "Evolution with state-dependent Mutations," Levine's Working Paper Archive 771, David K. Levine.
  6. Binmore, K. & Samuelson, L., 1997. "Evolutionary Drift and Equilibrium Selection," Working papers 9729r, Wisconsin Madison - Social Systems.
  7. Matthew O. Jackson & Alison Watts, 2000. "On the Formation of Interaction Networks in Social Coordination Games," Econometric Society World Congress 2000 Contributed Papers 0778, Econometric Society.
  8. Blume, Lawrence E., 2003. "How noise matters," Games and Economic Behavior, Elsevier, vol. 44(2), pages 251-271, August.
  9. Hojman, Daniel A. & Szeidl, Adam, 2006. "Endogenous networks, social games, and evolution," Games and Economic Behavior, Elsevier, vol. 55(1), pages 112-130, April.
  10. Jackson, Matthew O. & Wolinsky, Asher, 1996. "A Strategic Model of Social and Economic Networks," Journal of Economic Theory, Elsevier, vol. 71(1), pages 44-74, October.
  11. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
  12. Binmore, Ken & Samuelson, Larry, 1999. "Evolutionary Drift and Equilibrium Selection," Review of Economic Studies, Wiley Blackwell, vol. 66(2), pages 363-93, April.
  13. Alan Beggs, 2003. "Waiting Times and Equilibrium Selection," Economics Series Working Papers 142, University of Oxford, Department of Economics.
  14. George Ehrhardt & Matteo Marsili & Fernando Vega-Redondo, 2006. "Diffusion and growth in an evolving network," International Journal of Game Theory, Springer, vol. 34(3), pages 383-397, October.
  15. Goyal, Sanjeev & Vega-Redondo, Fernando, 2005. "Network formation and social coordination," Games and Economic Behavior, Elsevier, vol. 50(2), pages 178-207, February.
  16. Ellison, Glenn, 2000. "Basins of Attraction, Long-Run Stochastic Stability, and the Speed of Step-by-Step Evolution," Review of Economic Studies, Wiley Blackwell, vol. 67(1), pages 17-45, January.
  17. Mathias Staudigl, 2013. "Co-evolutionary dynamics and Bayesian interaction games," International Journal of Game Theory, Springer, vol. 42(1), pages 179-210, February.
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