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Evolutionary game theory studies the robustness of strategy profiles and sets of strategy profiles with respect to evolutionary forces in games played repeatedly in large populations of boundedly rational agents. The approach is macro oriented inthe sense of focusing on the strategy distribution...
Persistent link: https://www.econbiz.de/10005486499
This paper provides deterministic approximation results for stochastic processes that arise when finite populations of boundedly rational agents recurrently play finite games. The deterministic approximation is defined in continuous time in terms of a system of ordinary differential equations of...
Persistent link: https://www.econbiz.de/10005639325