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Multiple equilibria and limit cycles in evolutionary games with Logit Dynamics

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  • Hommes, Cars H.
  • Ochea, Marius I.

Abstract

This note shows, by means of two simple, three-strategy games, the existence of stable periodic orbits and of multiple, interior steady states in a smooth version of the Best-Response Dynamics, the Logit Dynamics. The main finding is that, unlike Replicator Dynamics, generic Hopf bifurcation and thus, stable limit cycles, occur under the Logit Dynamics, even for three-strategy games. We also show that the Logit Dynamics displays another bifurcation which cannot occur under the Replicator Dynamics: the fold bifurcation, with non-monotonic creation and disappearance of steady states.

Suggested Citation

  • Hommes, Cars H. & Ochea, Marius I., 2012. "Multiple equilibria and limit cycles in evolutionary games with Logit Dynamics," Games and Economic Behavior, Elsevier, vol. 74(1), pages 434-441.
    • Handle: RePEc:eee:gamebe:v:74:y:2012:i:1:p:434-441
    DOI: 10.1016/j.geb.2011.05.014
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    11. Kukla, Elżbieta & Płatkowski, Tadeusz, 2013. "Onset of limit cycles in population games with attractiveness driven strategy choice," Chaos, Solitons & Fractals, Elsevier, vol. 56(C), pages 77-82.
    12. Wenjun Hu & Haiyan Tian & Gang Zhang, 2019. "Bifurcation Analysis of Three-Strategy Imitative Dynamics with Mutations," Complexity, Hindawi, vol. 2019, pages 1-8, October.
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    15. Xu, Bin & Zhou, Hai-Jun & Wang, Zhijian, 2013. "Cycle frequency in standard Rock–Paper–Scissors games: Evidence from experimental economics," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 392(20), pages 4997-5005.
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    More about this item

    Keywords

    Evolutionary games; Logit dynamics; Hopf bifurcation; Fold bifurcation;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games

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