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Evolutionary dynamics on infinite strategy spaces

2001; Springer Science+Business Media; Volume: 17; Issue: 1 Linguagem: Inglês

10.1007/pl00004092

1432-0479

Jörg Oechssler, Frank Riedel,

Economic theories and models

Summary. The study of evolutionary dynamics was so far mainly restricted to finite strategy spaces. In this paper we show that this unsatisfying restriction is unnecessary. We specify a simple condition under which the continuous time replicator dynamics are well defined for the case of infinite strategy spaces. Furthermore, we provide new conditions for the stability of rest points and show that even strict equilibria may be unstable. Finally, we apply this general theory to a number of applications like the Nash demand game, the War of Attrition, linear-quadratic games, the harvest preemption game, and games with mixed strategies.