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Informal property rights as stable conventions in hawk-dove games with many players

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  • Daniel Wood

Abstract

This paper investigates the evolution of conventions (Young Econometrica 61(1):57–84, 1993 ) in n-player hawk-dove games where multiple players share the same payoff-irrelevant label, such as “blue” or “green”. With more than two players, the stochastically stable equilibrium depends on how many players in the contest share each label. If the cost of fighting is high, then the long-run equilibrium is favorable to the label shared by fewer players – those players play hawk – while if the cost is low, then the opposite convention develops. This result provides one explanation for the emergence of informal property rights. In disputes over property, a fundamental distinction exists between the possessor, who is unique, and non-possessors, who can be several. For objects whose value is low relative to the cost of conflict over them, this asymmetry favors the development of informal property rights conventions. Copyright Springer-Verlag Berlin Heidelberg 2015

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  • Daniel Wood, 2015. "Informal property rights as stable conventions in hawk-dove games with many players," Journal of Evolutionary Economics, Springer, vol. 25(4), pages 849-873, September.
    • Handle: RePEc:spr:joevec:v:25:y:2015:i:4:p:849-873
    DOI: 10.1007/s00191-015-0412-x
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    References listed on IDEAS

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    1. Yasar, Alperen, 2023. "Power struggles and gender discrimination in the workplace," SocArXiv t4g83, Center for Open Science.

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    More about this item

    Keywords

    N-player games; Hawk-dove; Stochastic stability; Convention; Informal property rights; Payoff-irrelevant asymmetry; C72; C73; D74; P14;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions
    • P14 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Property Rights

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