Under general demands and costs, this paper investigates the evolutions of Cournot and Bertrand firms in imitation and replicator dynamics. All-Cournot firms, all-Bertrand firms and both-type’s co-existence can be globally asymptotically stable limits of replicator dynamics, while only the...

Repeated interactions provide a prominent but paradoxical hypothesis for human cooperation in one-shot interactions. Intergroup competitions provide a different hypothesis that is intuitively appealing but heterodox. We show that neither mechanism reliably supports the evolution of cooperation...

In this paper we model the interaction between leaders, their followers and crowd followers in a coordination game with local interaction. The steady states of a dynamic best-response process can feature a coexistence of Pareto dominant and risk dominant actions in the population. The existence...

The prices of exchange-traded funds (ETFs) can deviate significantly from their net asset values (NAVs). Exploiting such inefficiencies is often too costly because it involves taking positions in hundreds of underlying illiquid securities. We develop a method that identifies a liquid mimicking...

To solve the social dilemma between buses and social vehicles in mandatory lane changing for bus exiting, the evolutionary game models are formulated to analyze the interactions between them. Considering the uncertainties for human-driven and connected autonomous buses around bus bays, the...

This paper constructs a three-party evolutionary game model and analyzes the influence of each subject's behavior probability on the strategies of other subjects and the stability of the system. Based on field survey data, we simulate and analyze the effects of total government subsidies, the...

Facing the sanctions from the West since the annexation of Crimea in 2014, Russia quickly converged to a strong counter-sanction strategy. The US and the EU staggered the strengths of sanctions in turns, with the EU first imposing relatively stronger commercial sanctions first and the US...

I develop a notion of evolutionary stability of behavioural rules when individuals simultaneously interact in a family of strategic games. An individual’s strategy choice is determined by his behavioural rule which may take into account the manner in which the games have been played in the...