165,514 research outputs found
Escort Evolutionary Game Theory
A family of replicator-like dynamics, called the escort replicator equation,
is constructed using information-geometric concepts and generalized information
entropies and diverenges from statistical thermodynamics. Lyapunov functions
and escort generalizations of basic concepts and constructions in evolutionary
game theory are given, such as an escorted Fisher's Fundamental theorem and
generalizations of the Shahshahani geometry.Comment: Minor typo correctio
Cycle frequency in standard Rock-Paper-Scissors games: Evidence from experimental economics
The Rock-Paper-Scissors (RPS) game is a widely used model system in game
theory. Evolutionary game theory predicts the existence of persistent cycles in
the evolutionary trajectories of the RPS game, but experimental evidence has
remained to be rather weak. In this work we performed laboratory experiments on
the RPS game and analyzed the social-state evolutionary trajectories of twelve
populations of N=6 players. We found strong evidence supporting the existence
of persistent cycles. The mean cycling frequency was measured to be period per experimental round. Our experimental observations can be
quantitatively explained by a simple non-equilibrium model, namely the
discrete-time logit dynamical process with a noise parameter. Our work
therefore favors the evolutionary game theory over the classical game theory
for describing the dynamical behavior of the RPS game.Comment: 7 Page, 3 figure; Keyword: Rock-Paper-Scissors game; cycle; social
state; population dynamics; evolutionary trajector
On an Evolutionary Foundation of Neuroeconomics
Neuroeconomics focuses on brain imaging studies mapping neural responses to choice behavior. Economic theory is concerned with choice behavior but it is silent on neural activities. We present a game theoretic model in which players are endowed with an additional structure - a simple ``nervous system'' - and interact repeatedly in changing games. The nervous system constrains information processing functions and behavioral functions. By reinterpreting results from evolutionary game theory (Germano, 2007), we suggest that nervous systems can develop to ``function well'' in exogenously changing strategic environments. We present an example indicating that an analogous conclusion fails if players can influence endogenously their environment.Neuroeconomic Theory, Evolutionary Game Theory, Learning in Games,Neuroeconomic Theory, Evolutionary Game Theory, Learning in Games
Information Geometry and Evolutionary Game Theory
The Shahshahani geometry of evolutionary game theory is realized as the
information geometry of the simplex, deriving from the Fisher information
metric of the manifold of categorical probability distributions. Some essential
concepts in evolutionary game theory are realized information-theoretically.
Results are extended to the Lotka-Volterra equation and to multiple population
systems.Comment: Added reference
The evolution of social norms
Evolutionary game theory provides the tools to analyze which strategies, or patterns of behaviour, emerge over time through a process of adaptation. Social norms can be defined as patterns of behaviour with certain characteristics. Evolutionary game theory thus provides one perspective on how social norms are formed and maintained. Prisoner's dilemma games can be used to study the conditions under which cooperative norms emerge. Bargaining games can be used to address the formation of fairness norms. However, being more congenial to analyzing norms that somehow focus on material payoffs, it is not a given that evolutionary game theory can adequately address norms focusing on rights or virtues.Evolutionary game theory Social norms
Doves and hawks in economics revisited [An evolutionary quantum game theory-based analysis of financial crises]
The last financial and economic crisis demonstrated the dysfunctional long-term effects of aggressive behaviour in financial markets. Yet, evolutionary game theory predicts that under the condition of strategic dependence a certain degree of aggressive behaviour remains within a given population of agents. However, as the consequences of the financial crisis exhibit, it would be desirable to change the 'rules of the game' in a way that prevents the occurrence of any aggressive behaviour and thereby also the danger of market crashes. The paper picks up this aspect. Through the extension of the in literature well-known Hawk-Dove game by a quantum approach, we can show that dependent on entanglement, also evolutionary stable strategies can emerge, which are not predicted by classical evolutionary game theory and where the total economic population uses a non aggressive quantum strategy.Evolutionary game theory; financial crisis; hawk-dove game; quantum game theory
Theory of the evolutionary minority game
We present a theory which describes a recently introduced model of an
evolving, adaptive system in which agents compete to be in the minority. The
agents themselves are able to evolve their strategies over time in an attempt
to improve their performance. The present theory explicitly demonstrates the
self-interaction, or so-called market impact, that agents in such systems
experience
- âŚ