Paper #761

Title:

Stochastic evolution of rules for playing normal form games

Author:

Fabrizio Germano

Date:

June 2004

Abstract:

The evolution of boundedly rational rules for playing normal form games is studied within stationary environments of stochastically changing games. Rules are viewed as algorithms prescribing strategies for the different normal form games that arise. It is shown that many of the folk results of evolutionary game theory typically obtained with a fixed game and fixed strategies carry over to the present case. The results are also related to recent experiments on rules and games.

Keywords:

Rules, evolutionary dynamics, stochastic dynamics, bounded rationality, learning, normal form games

JEL codes:

C72, C73, D81, D83

Area of Research:

Microeconomics

Published in:

Theory and Decision (2007) 62: 311-333

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