pr13ess.ab - Evolutionary Game Theory A. Basic Concepts,...

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Evolutionary Game Theory A. Basic Concepts, notation & Definitions 2 ECON 461 Spring 2010, H. Ofek Evolutionary Games Introduction Evolutionary game theory is essentially the study of frequency-dependent selection (natural-, or otherwise). Expected payoffs are given in terms of expected fitness (expected number of offspring that survive to reproductive age). So, success in the game means reproductive success. The expected fitness of an individual depends on the frequency in which its own (pheno) type is represented in the population, relative to other (pheno) types. The typical (but not exclusive) setting is a single population from which members are randomly matched in pairs to play a 2-player game (e.g., the Hawk-Dove game, among others). Individuals are (genetically, or otherwise) programmed to play a fixed (pure or mixed) strategy.
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3 ECON 461 Spring 2010, H. Ofek Evolutionary Games Distinguishing Features The following table summarizes some of the points that typically set evolutionary game theory apart from conventional game theory. It should be noted, however, that the mathematical structure of the games is essentially the same and the solution concepts closely overlap. Conventional Game Theory Evolutionary Game Theory Players are rational Players are myopic The apparatus of decision making is (Darwinian) natural selection Strategies are (genetically) encoded Payoffs are in expected fitness Sets of players are assigned to individual strategies “Winners” and “losers” are populations (or subpopulation groups) Solution concept: ESS – no rare mutant or invader can survive The apparatus of decision making is the human brain Strategies are adapted by reason Payoffs are in expected utility Sets of strategies are assigned to individual players “Winners” and “losers” are individual agents Solution concept: Nash equilibrium – no player can unilaterally do better 4 Evolutionary Games Informal Statement of the Problem
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This note was uploaded on 05/07/2010 for the course ECON 461 taught by Professor Haimofek during the Spring '08 term at Binghamton University.

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pr13ess.ab - Evolutionary Game Theory A. Basic Concepts,...

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