We define the logit dynamic for games with continuous strategy spaces and establish its fundamental properties, i.e. the existence, uniqueness and continuity of solutions. We apply the dynamic to the analysis of the Burdett and Judd (1983) model of price dispersion. Our objective is to assess...

Purpose – This article aims to provide an exposition of evolutionary game theory which can be used for pedagogical purposes. Design/methodology/approach – The exposition is presented as a mathematical model in order to cover the formal underpinnings of evolutionary game theory. The paper...

We define the logit dynamic for games with continuous strategy spaces and establish its fundamental properties, i.e. the existence, uniqueness and continuity of solutions. We apply the dynamic to the analysis of the Burdett and Judd (1983) model of price dispersion. Our objective is to assess...

Purpose – This article aims to provide an exposition of evolutionary game theory which can be used for pedagogical purposes. Design/methodology/approach – The exposition is presented as a mathematical model in order to cover the formal underpinnings of evolutionary game theory. The paper...