A ‘Dual’-Improved Shortcut to the Long Run

Kareen Rozen ()

No 1643, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: I use the theories of duality and optimal branchings to find a necessary and sufficient characterization of stochastically stable limit sets (SSLS) that helps improve the radius -- modified coradius test of Ellison (2000). The improved shortcut I offer may permit the identification of SSLS when Ellison’s radius -- modified coradius test fails to identify any, or may be able to pinpoint the true SSLS in cases where Ellison’s test identifies only a superset. I also demonstrate precisely why the radius -- modified coradius test is not universally applicable and illuminate the connection between the modified coradius and the Lagrange multipliers of the optimal branching problem.

Keywords: Evolutionary games; Stochastic stability; Optimal branchings; Extended radius; Extended coradius; Modified coradius (search for similar items in EconPapers)
JEL-codes: C73 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2008-03
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Working Paper: A ‘Dual’-Improved Shortcut to the Long Run (2008)
Working Paper: A 'Dual'-Improved Shortcut to the Long Run (2008)
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