The paper analyses the properties and outcomes of competitive dynamics in industries characterized by heterogeneous firms and continuing stochastic entry. A formal analytical apparatus is developed, able to derive some generic properties of the underlying competition process combining persistent...

In biology, the evolution of increasingly cooperative groups has shaped the history of life. Genes collaborate in the control of cells; cells efficiently divide tasks to produce cohesive multicellular individuals; individual members of insect colonies cooperate in integrated societies....

It is shown that the equilibrium notion of an evolutionary stable strategy (ESS) does have predictive power for standard models of Bertrand competition. This is in contrast to a recent claim by Qin and Stuart (1997). The claim is based on the observation that the solution concept ESS behaves...

A minimal diversity game is an n player strategic form game in which each player has pure strategies at his disposal. The payoff to each player is always 1, unless all players select the same pure strategy, in which case all players receive zero payoff. Such a game has a unique isolated...

Evolutionary game theory has shown that in environments characterised by a social-dilemma situation punishment may be an adaptive behaviour. Experimental evidence closely corresponds to this finding but yields contradictory results on the cooperation-enhancing effect of punishment if players are...

In games with costless preplay communication, some strategies are more complex than others in the sense that they induce a finer partition of the set of states of the world. This paper shows that if the concept of evolutionary stability, which is argued to be a natural solution concept for...