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Evolutive Equilibrium Selection I: Symmetric Two Player Binarychoice Games

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  • Richard Vaughan

Abstract

The aim of the paper is the construction of a distributional model which enables the study of the evolutionary dynamics that arise for symmetric games, and the equilibrium selection mechanisms that originate from such processes. The evolution of probability distributions over the state variables is studied using the Fokker- Planck dif-fusion equation. Equilibrium selection using the "basin of attraction" approach, and a selection process suggested by Pontryagin are contrasted. Examples are provided for all generic 2-person symmetric binary choice games.

Suggested Citation

  • Richard Vaughan, "undated". "Evolutive Equilibrium Selection I: Symmetric Two Player Binarychoice Games," ELSE working papers 016, ESRC Centre on Economics Learning and Social Evolution.
    • Handle: RePEc:els:esrcls:016
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    References listed on IDEAS

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    Keywords

    Symmetric Games; Equilibrium Selection;

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