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-based representation in the usual exponential form corresponds to one-period "altruism" towards one's future selves: the current self gives …) and Laibson (1997) correspond to quasi-exponential altruism towards one's future selves. For ß=1/2, the welfare weights …
Persistent link: https://www.econbiz.de/10005645410
Is discounting of future instantaneous utilities consistent with altruism towards future selves? More precisely, can … Pollak (1968) and Laibson (1997) correspond to quasi-exponential altruism towards one's future selves. For ß=1/2, these …
Persistent link: https://www.econbiz.de/10005645443
This paper provides deterministic approximation results for stochastic processes that arise when finite populations recurrently play finite games. The deterministic approximation is defined in continuous time as a system of ordinary differential equations of the type studied in evolutionary game...
Persistent link: https://www.econbiz.de/10005419542
No abstract.
Persistent link: https://www.econbiz.de/10010818312
No abstract.
Persistent link: https://www.econbiz.de/10010818361
No abstract.
Persistent link: https://www.econbiz.de/10010818403
No abstract.
Persistent link: https://www.econbiz.de/10010611601
Evolutionary theorizing has a long tradition in economics. Only recently has this approach been brought into the framework of non-cooperative game theory. Evolutionary game theory studies the robustness of strategic behaviour with respect to evolutionary forces in the context of games played...
Persistent link: https://www.econbiz.de/10005771089
In the models of Young (1993a,b), boundedly rational individuals are recurrently matched to play a game, and they play myopic best replies to the recent history of play. It could therefore be an advantage to instead play a myopic best reply to the myopic best reply, something boundedly rational...
Persistent link: https://www.econbiz.de/10005190635
Bergin and Lipman (1996) show that the refinement effect from the random mutations in the adaptive population dynamics in Kandori, Mailath and rob (1993) and Young (1993) is due to restrictions on how these mutation rates vary across population states. We here model mutation rates as...
Persistent link: https://www.econbiz.de/10005082492