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We consider a fast evolutionary dynamic process on finite stopping games, where each player at each node has at most one move to continue the game. A state is evolutionarily stable if its long-run relative frequency of occurrence is bounded away from zero as the mutation rate decreases to zero....
Persistent link: https://www.econbiz.de/10010839554
We consider a basic dynamic evolutionary model with rare mutation and a best-reply (or better-reply) selection mechanism. A state is evolutionarily stable if its long-term relative frequency of occurrence is bounded away from zero as the mutation rate decreases to zero. We prove that, for all...
Persistent link: https://www.econbiz.de/10010617804
We prove that, in all finite generic extensive-form games of perfect information, a continuous-time best response dynamic always converges to a Nash equilibrium component. We show the robustness of convergence by an approximate best response dynamic: whatever the initial state and an allowed...
Persistent link: https://www.econbiz.de/10009764521
We consider a basic stochastic evolutionary model with rare mutation and a best-reply (or better-reply) selection mechanism. Following Young's papers, we call a state stochastically stable if its long-term relative frequency of occurrence is bounded away from zero as the mutation rate decreases...
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We prove that, in all finite generic extensive-form games of perfect information, a continuous-time best response dynamic always converges to a Nash equilibrium component. We show the robustness of convergence by an approximate best response dynamic: whatever the initial state and an allowed...
Persistent link: https://www.econbiz.de/10011381247