Evolutionarily Stable Correlation

Chongmin Kim and Kam-Chau Wong
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Chongmin Kim: Kookmin University
Kam-Chau Wong: Chinese University of Hong Kong

Korean Economic Review, 2017, vol. 33, 55-94

Abstract: Most results of evolutionary games are restricted only to the Nash equilibrium. In this paper, we introduce an analogue of the evolutionarily stable strategy (ESS) for correlated equilibria. We introduce a new concept―the evolutionarily stable correlation (ESC)―and prove that it generalizes the ESS. We also study analogues of perfection and properness for correlated equilibria and discuss their relationships with the ESC.

Keywords: Correlated Equilibrium; Evolutionarily Stable Correlation; Evolutionarily Stable State; Perfect Correlated Equilibrium; Proper Correlated Equilibrium (search for similar items in EconPapers)
JEL-codes: C70 C72 (search for similar items in EconPapers)
Date: 2017
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