Cyclical behavior of evolutionary dynamics in coordination games with changing payoffs

George Loginov ()

International Journal of Game Theory, 2022, vol. 51, issue 1, No 1, 27 pages

Abstract: Abstract The paper presents a model of two-speed evolution in which the payoffs in the population game (or, alternatively, the individual preferences) slowly adjust to changes in the aggregate behavior of the population. The model investigates how, for a population of myopic agents with homogeneous preferences, changes in the environment caused by current aggregate behavior may affect future payoffs and hence alter future behavior. The interaction between the agents is based on a symmetric two-strategy game with positive externalities and negative feedback from aggregate behavior to payoffs, so that at every point in time the population has an incentive to coordinate, whereas over time the more popular strategy becomes less appealing. Under the best response dynamics and the logit dynamics with small noise levels the joint trajectories of preferences and behavior converge to closed orbits around the unique steady state, whereas for large noise levels the steady state of the logit dynamics becomes a sink. Under the replicator dynamics the unique steady state of the system is repelling and the trajectories are unbounded unstable spirals.

Keywords: Evolutionary game dynamics; Environmental feedback; Two speed evolution; Evolution of preferences (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s00182-021-00783-z Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
Working Paper: Cyclical behavior of evolutionary dynamics in coordination games with changing payoffs (2021)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:jogath:v:51:y:2022:i:1:d:10.1007_s00182-021-00783-z

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/182/PS2

DOI: 10.1007/s00182-021-00783-z

Access Statistics for this article

International Journal of Game Theory is currently edited by Shmuel Zamir, Vijay Krishna and Bernhard von Stengel

More articles in International Journal of Game Theory from Springer, Game Theory Society
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().