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What have we learned from Evolutionary Game Theory so far?

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Author Info
Weibull, Jörgen W. () (The Research Institute of Industrial Economics)

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Abstract

Evolutionary theorizing has a long tradition in economics. Only recently has this approach been brought into the framework of non-cooperative game theory. Evolutionary game theory studies the robustness of strategic behaviour with respect to evolutionary forces in the context of games played many times in large populations of boundedly rational agents. This new strand in economic theory has lead to new predictions and opened up doors to other social sciences. The discussion will be focused on the following questions: What distinguishes the evolutionary approach from the rationalistic? What are the most important findings in evolutionary game theory so far? What are the next challenges for evolutionary game theory in economics?

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Paper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 487.

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Length: 29 pages
Date of creation: 16 Sep 1997
Date of revision: 26 Oct 1998
Handle: RePEc:hhs:iuiwop:0487

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Related research
Keywords: Game theory; Evolution;

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Find related papers by JEL classification:
C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Cited by:
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  1. Kris De Jaegher & Marc Jegers, 2001. "The physician-patient relationship as a game of strategic information transmission," Health Economics, John Wiley & Sons, Ltd., vol. 10(7), pages 651-668. [Downloadable!]
  2. Camerer, Colin & Ho, Teck-Hua, 1997. "Experience-Weighted Attraction Learning in Games: A Unifying Approach," Working Papers 1003, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  3. Stepan Cabelka & Jacek Cukrowski, 2001. "R&D in Duopoly with Spillovers: Evolution and Aspiration Learning," Industrial Organization 0012005, EconWPA. [Downloadable!]
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