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Global analysis of an expectations augmented evolutionary dynamics

Antoci, Angelo and Gay, Antonio and Landi, Massimiliano and Sacco, Pier Luigi (2008) Global analysis of an expectations augmented evolutionary dynamics. Journal of Economic Dynamics and Control, Vol. 32 (12), p. 3877-3894. ISSN 0165-1889. Article.

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DOI: 10.1016/j.jedc.2008.04.003

Abstract

We consider a deterministic evolutionary model where players form expectations about future play. Players are not fully rational and have expectations that change over time in response to current payoffs and feedback from the past. We provide a complete characterization of the qualitative dynamics so induced for a two strategy population game, and relate our findings to standard evolutionary dynamics and equilibrium selection when agents have rational forward looking expectations.

Item Type:Article
ID Code:1421
Status:Published
Refereed:Yes
Uncontrolled Keywords:Evolutionary games, dynamic systems, bounded rationality
Subjects:Area 13 - Scienze economiche e statistiche > SECS-P/06 Economia applicata
Divisions:001 Università di Sassari > 01 Dipartimenti > Economia, impresa, regolamentazione
Publisher:Elsevier Science
ISSN:0165-1889
Deposited On:18 Aug 2009 10:05

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