Munich Personal RePEc Archive

A new stationary game equilibrium induced by stochastic group evolution and rational Individual choice

Dai, Darong and Shen, Kunrong (2012): A new stationary game equilibrium induced by stochastic group evolution and rational Individual choice.

[img]
Preview
PDF
MPRA_paper_40133.pdf

Download (315kB) | Preview

Abstract

In the present paper, a new approach to equilibrium selection for very general normal form games has been constructed by introducing stochastic optimal stopping theory into classical evolutionary game theory. That is, the new game equilibrium is induced by both stochastic group evolution and decentralized rational individual choice. Moreover, stability of the game equilibrium is confirmed from both time and space dimensions.

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.