Evolutionary imitative dynamics with population-varying aspiration levels

Ryoji Sawa and Dai Zusai

Journal of Economic Theory, 2014, vol. 154, issue C, 562-577

Abstract: 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.

Keywords: Learning; Imitation; Multiple populations; Aspiration level; Wright manifold (search for similar items in EconPapers)
JEL-codes: C72 C73 D03 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:154:y:2014:i:c:p:562-577

DOI: 10.1016/j.jet.2014.10.001

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