Global Analysis of an Expectations Augmented Evolutionary Dynamics

Development Economics Working Papers from East Asian Bureau of Economic Research

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 strategies population game, and relate our findings to standard evolutionary dynamics and equilibrium selection when agents have rational forward looking expectations.

Keywords: evolutionary games; dynamic systems; bounded rationality (search for similar items in EconPapers)
JEL-codes: C73 (search for similar items in EconPapers)
Date: 2007-01
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Related works:
Journal Article: Global analysis of an expectations augmented evolutionary dynamics (2008)
Working Paper: Global Analysis of an Expectations Augmented Evolutionary Dynamics (2007)
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