DETERMINISTIC EVOLUTIONARY DYNAMICS - A UNIFYING APPROACH

Authors
Citation
R. Joosten, DETERMINISTIC EVOLUTIONARY DYNAMICS - A UNIFYING APPROACH, Journal of evolutionary economics, 6(3), 1996, pp. 313-324
Citations number
60
Categorie Soggetti
Economics
ISSN journal
09369937
Volume
6
Issue
3
Year of publication
1996
Pages
313 - 324
Database
ISI
SICI code
0936-9937(1996)6:3<313:DED-AU>2.0.ZU;2-E
Abstract
We tackle three components of evolutionary modelling: payoffs, dynamic al systems and equilibrium concepts, Firstly, we merely require that f itness functions are continuous, Secondly, we examine very general cla sses of dynamics. Thirdly, we give useful parallels to the Nash equili brium and the evolutionarily stable strategy. Under (weakly) sign-comp atible dynamics the change in population share of every (at least one) subgroup present in the population corresponds in sign with its relat ive fitness. At a saturated equilibrium, each subgroup with positive p opulation share has highest fitness. We examine two evolutionary stabi lity concepts: the evolutionarily stable equilibrium and the generaliz ed evolutionarily stable state.