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Evolutionary Selection against Iteratively Weakly Dominated Strategies

Bernergård, Axel and Mohlin, Erik LU (2017) In Working Papers
Abstract
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.
Please use this url to cite or link to this publication:
author
and
organization
publishing date
type
Working paper/Preprint
publication status
published
subject
keywords
Iterated elimination of weakly dominated strategies, Iterated admissibility, Payoff monotonicity, Convex monotonicity, Evolutionary dynamics, Replicator dynamic, C72, C73
in
Working Papers
issue
2017:18
pages
29 pages
publisher
Department of Economics, Lund University
language
English
LU publication?
yes
id
5f35d442-cc3c-4d9d-bec5-1b6042ddd7ee
alternative location
https://swopec.hhs.se/lunewp/abs/lunewp2017_018.htm
date added to LUP
2018-02-16 11:19:51
date last changed
2019-06-27 08:19:34
@misc{5f35d442-cc3c-4d9d-bec5-1b6042ddd7ee,
  abstract     = {{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.}},
  author       = {{Bernergård, Axel and Mohlin, Erik}},
  keywords     = {{Iterated elimination of weakly dominated strategies; Iterated admissibility; Payoff monotonicity; Convex monotonicity; Evolutionary dynamics; Replicator dynamic; C72; C73}},
  language     = {{eng}},
  note         = {{Working Paper}},
  number       = {{2017:18}},
  publisher    = {{Department of Economics, Lund University}},
  series       = {{Working Papers}},
  title        = {{Evolutionary Selection against Iteratively Weakly Dominated Strategies}},
  url          = {{https://swopec.hhs.se/lunewp/abs/lunewp2017_018.htm}},
  year         = {{2017}},
}