Resource title

Evolution and correlated equilibrium

Resource image

image for OpenScout resource :: Evolution and correlated equilibrium

Resource description

We show that a set of outcomes outside the convex hull of Nash equilibria can be asymptotically stable with respect to convex monotonic evolutionary dynamics. Boundedly rational agents receive signals and condition the choice of strategies on the signals. A set of conditional strategies is asymptotically stable only if it represents a strict (correlated-)equilibrium set. There are correlated equilibria that cannot be represented by an asymptotically stable signal contingent strategy. For generic games it is shown that if signals are endogenous but no player has an incentive to manipulate the signal generating process and if the signal contingent strategy is asymptotically stable, then and only then, the outcome must be a strict Nash equilibrium.

Resource author

Lars P. Koch

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/27174

Resource license

Adapt according to the presented license agreement and reference the original author.