Evolutionary imitative dynamics with population-varying aspiration levels

Evolutionary imitative dynamics with population-varying aspiration levels

We consider deterministic evolutionary dynamics under imitative revision protocols. We allow agents to have different aspiration levels in the imitative protocols where their aspiration levels are not observable to other agents. We show that the distribution of strategies becomes statistically indep...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:Journal of economic theory 2014-11, Vol.154, p.562-577
Hauptverfasser: Sawa, Ryoji, Zusai, Dai
Format: Artikel
Sprache:eng
Schlagworte:
Agency theory
Aspiration level
Aspirations
Distribution
Dynamic mechanical properties
Dynamics
Economic theory
Economics
Evolutionary
Heterogeneity
Imitation
Kyoto Protocol
Learning
Multiple populations
Probability distribution
Protocol
Strategy
Studies
Wright manifold
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
Beschreibung
Zusammenfassung:We consider deterministic evolutionary dynamics under imitative revision protocols. We allow agents to have different aspiration levels in the imitative protocols where their aspiration levels are not observable to other agents. We show that the distribution of strategies becomes statistically independent of the aspiration level eventually in the long run. Thus, long-run properties of homogeneous imitative dynamics hold as well, despite heterogeneity in aspiration levels.
ISSN:0022-0531
1095-7235
DOI:10.1016/j.jet.2014.10.001