Evolution, dynamics, and fixed points

Reinoud Joosten
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Reinoud Joosten: MERIT

No 5, Research Memorandum from Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT)

Abstract: Sign-compatible dynamics describe changes in the composition of a population driven by differences in fitness. A saturated equilibrium is a fixed point for sign-compatible dynamics where each subgroup with positive population share has highest fitness. An evolutionary stable equilibrium is a saturated equilibrium attracting all trajectories nearby, such that the Euclidean distance to it decreases monotonically. We address existence, multiplicity, and dynamical stability of fixed points of sign-compatible dynamics. A saturated equilibrium may be approximated by using a variable dimension restart algorithm for solving the nonlinear complementarity problem. Journal of Economic Literature Classification Numbers: C62, C68, C72, C73. Keywords: Sign-compatible population dynamics, saturated equilibrium, evolutionary stable equilibrium, dynamic stability, nonlinear complementarity problem.

Keywords: mathematical; economics; and; econometrics (search for similar items in EconPapers)
Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:unm:umamer:1995005

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