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Research Details
Evolutionary Stability with Equilibrium Entrants, Journal of Economic Theory
Abstract
The strategy that upsets a potential evolutionarily stable strategy may in itself be very unstable, or may differ from the candidate strategy only in irrelevant ways. This paper develops a solution concept addressing these difficulties. We look for a set of Nash equilibria such that small groups of entrants whose members are satisfied with their entry cannot take the population out of the set. Such a set is robust to the iterated removal of weakly dominated strategies, depends only on the reduced normal form, and has the never a weak best response property. For generic two person extensive form games, such sets generate payoffs consistent with proper equilibria.
Type
Article
Author(s)
Date Published
1992
Citations
Swinkels, Jeroen. 1992. Evolutionary Stability with Equilibrium Entrants. Journal of Economic Theory.: 306-332.