Neuroeconomics focuses on brain imaging studies mapping neural responses to choice behavior. Economic theory is concerned with choice behavior but it is silent on neural activities. We present a game theoretic model in which players are endowed with an additional structure - a simple nervous...

This chapter critically analyses contributions to evolutionary game theory by such writers as Robert Trivers, John Maynard-Smith, and Robert Axelrod. It develops four key arguments. First, that the behavioral propensities that manifest themselves in altruistic behavior are empirically relevant,...

Suppose that in aggregative games, in which a player's payoff depends only on this player's strategy and on an aggregate of all players' strategies, the players are endowed with constant conjectures about the reaction of the aggregate to marginal changes in the player's strategy. The players...

This paper shows that an important class of evolutionary game - theoretic models ? those in which agents form beliefs about the behavior of others on the basis of samples they observe from the population ? violate a property ? monotonicity ? that many authors have argued any well-specified...

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...

The literature on the evolution of preferences of individuals in strategic interactions is vast and diverse. We organize the discussion around the following question: Supposing that material outcomes drive evolutionary success, under what circumstances does evolution promote , defined as...

Cooperation among unrelated individuals is frequently observed in social groups when their members combine efforts and resources to obtain a shared benefit that is unachievable by an individual alone. However, understanding why cooperation arises despite the natural tendency of individuals...

Interdisciplinary work in the law often starts and stops with the social sciences. To produce a complete understanding of how law works, however, evolutionary game theoretic insights must supplement philosophical, psychological, economic and other social scientific methods. To illustrate, I...

There are many instances in nature of animals having a form of property rights, a respect for mine and thine. This paper addresses the question of how a norm of respecting property rights can emerge within a group of individuals without access to third party enforcement. Building upon work in...

In this paper, we propose an evolutionary model of oligopoly competition where agents can select between different behavioral rules to make decisions on productions. We formalize the model as a general class of evolutionary oligopoly games and then we consider an example with two specific rules,...