Evolutionary Selection against Iteratively Weakly Dominated Strategies
Axel Bernergård () and
Erik Mohlin ()
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Axel Bernergård: Department of Economics, Södertörn University, Postal: Alfred Nobels allé 7, S-141 89 Huddinge, Sweden.
No 2017:18, Working Papers from Lund University, Department of Economics
This paper provides sufficient conditions under which convex monotonic evolutionary dynamics (a class of imitative dynamics that includes the replicator dynamic) select against strategies that do not survive iterated elimination of weakly dominated strategies. We apply these conditions to Bertrand duopolies, first-price auctions, finitely repeated Prisoner's Dilemmas, and the p-Beauty Contests. Our conditions also imply evolutionary selection against all iteratively strictly dominated strategies.
Keywords: Iterated elimination of weakly dominated strategies; Iterated admissibility; Payoff monotonicity; Convex monotonicity; Evolutionary dynamics; Replicator dynamic (search for similar items in EconPapers)
JEL-codes: C72 C73 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-evo and nep-gth
Date: 2017-12-09, Revised 2018-11-12
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Journal Article: Evolutionary selection against iteratively weakly dominated strategies (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:lunewp:2017_018
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