We consider a discrete choice model in which the payoffs to each of an agentʼs n actions are subjected to the average of m i.i.d. shocks, and use tools from large deviations theory to characterize the rate of decay of the probability of choosing a given suboptimal action as m approaches...

The projection dynamic is an evolutionary dynamic for population games. It is derived from a model of individual choice in which agents abandon their current strategies at rates inversely proportional to the strategies' current levels of use. The dynamic admits a simple geometric definition, its...

We investigate a variety of connections between the projection dynamic and the replicator dynamic. At interior population states, the standard microfoundations for the replicator dynamic can be converted into foundations for the projection dynamic by replacing imitation of opponents with...