Evolutionary Game Theory and Economics. Part 1. Optimality Principles and Models of Behavior Dynamics

The paper discusses basic concepts of the evolutionary game theory and provides a survey of the most important applications to modeling of economic behavior. We expound the foundation for application of the Nash equilibrium concept to agents with bounded rationality and incomplete information. We discuss models of formation of payoff functions, or evolution of preferences.

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Year of publication:	2009
Authors:	Vasin, A.
Published in:	Journal of the New Economic Association. - New Economic Association - NEA. - 2009, 3-4, p. 10-27
Publisher:	New Economic Association - NEA
Subject:	Evolutionary stable strategy \| replicator dynamics \| adaptive dynamics

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	C73 - Stochastic and Dynamic Games
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008597028