Evolutionary dynamics over continuous action spaces for population games that arise from symmetric two-player games

Daniel Friedman and Daniel N. Ostrov

Journal of Economic Theory, 2013, vol. 148, issue 2, 743-777

Abstract: Any absolutely continuous, piecewise smooth, symmetric two-player game can be extended to define a population game in which each player interacts with a large representative subset of the entire population. Assuming that players respond to the payoff gradient over a continuous action space, we obtain nonlinear integro-partial differential equations that are numerically tractable and sometimes analytically tractable. Economic applications include oligopoly, growth theory, and financial bubbles and crashes.

Keywords: Population games; Gradient dynamics; Shock waves (search for similar items in EconPapers)
JEL-codes: C73 D70 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (17)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:148:y:2013:i:2:p:743-777

DOI: 10.1016/j.jet.2012.07.004

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