On the evolutionary selection of sets of Nash equilibria |
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Authors: | Dieter Balkenborg Karl H. Schlag |
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Affiliation: | a Department of Economics, University of Exeter, Streatham Court, Exeter EX4 4PU, UK b Economics Department, European University Institute, Via dei Roccettini 9, 50016 San Domenico di Fiesole, Italy |
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Abstract: | It is well established for evolutionary dynamics in asymmetric games that a pure strategy combination is asymptotically stable if and only if it is a strict Nash equilibrium. We use an extension of the notion of a strict Nash equilibrium to sets of strategy combinations called ‘strict equilibrium set’ and show the following. For a large class of evolutionary dynamics, including all monotone regular selection dynamics, every asymptotically stable set of rest points that contains a pure strategy combination in each of its connected components is a strict equilibrium set. A converse statement holds for two-person games, for convex sets and for the standard replicator dynamic. |
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Keywords: | C72 C79 |
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