Stability and trembles in extensive-form games

Yuval Heller

MPRA Paper from University Library of Munich, Germany

Abstract: A leading solution concept in the evolutionary study of extensive-form games is Selten's (1983) (selten1983evolutionary) notion of limit ESS. We demonstrate that a limit ESS does not imply neutral stability, and that it may be dynamically unstable (almost any small perturbation takes the population away). These problems arise due to an implicit assumption that “mutants” are arbitrarily rare relative to “trembling” incumbents. Finally, we present a novel definition that solves this issue and has appealing properties.

Keywords: Limit ESS; evolutionary stability; extensive-form games. (search for similar items in EconPapers)
JEL-codes: C73 (search for similar items in EconPapers)
Date: 2013-07-09
New Economics Papers: this item is included in nep-evo, nep-gth, nep-hpe and nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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https://mpra.ub.uni-muenchen.de/50345/1/MPRA_paper_50345.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/50350/1/MPRA_paper_50350.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/51052/1/MPRA_paper_51052.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/53387/1/MPRA_paper_53387.pdf revised version (application/pdf)

Related works:
Journal Article: Stability and trembles in extensive-form games (2014)
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