23 research outputs found

    Purely competitive evolutionary dynamics for games

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    We introduce and analyze a purely competitive dynamics for the evolution of an infinite population subject to a 3-strategy game. We argue that this dynamics represents a characterization of how certain systems, both natural and artificial, are governed. In each period, the population is randomly sorted into pairs, which engage in a once-off play of the game; the probability that a member propagates its type to its offspring is proportional only to its payoff within the pair. We show that if a type is dominant (obtains higher payoffs in games with both other types), its 'pure' population state, comprising only members of that type, is globally attracting. If there is no dominant type, there is an unstable 'mixed' fixed point; the population state eventually oscillates between the three near-pure states. We then allow for mutations, where offspring have a non-zero probability of randomly changing their type. In this case, the existence of a dominant type renders a point near its pure state globally attracting. If no dominant type exists, a supercritical Hopf bifurcation occurs at the unique mixed fixed point, and above a critical (typically low) mutation rate, this fixed point becomes globally attracting: the implication is that even very low mutation rates can stabilize a system that would, in the absence of mutations, be unstable.Comment: 13 pages, 6 figure

    What is the SARB's inflation targeting policy, and is it appropriate?

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    Since its adoption of inflation targeting in 2000, the South African Reserve Bank has been accused of placing too great an emphasis on meeting its inflation target, and too small an emphasis on the high rate of unemployment in the country. On the other hand, the SARB has regularly missed its inflation target. We attempt to characterise the SARB's inflation targeting policy by analysing the Bank's interest rate setting behaviour before and after the adoption of inflation targeting, making use of Taylor-like rules to determine whether the SARB has emphasised inflation, the output gap, the real exchange rate, and asset price deviations in its monetary policy. We find that the SARB has significantly changed its behaviour with the adoption of inflation targeting, and show that the SARB runs a very flexible inflation targeting regime, with strong emphasis on the output gap. Indeed, we find evidence that the emphasis on inflation is too low, and potentially conducive to instability in the inflation process

    What is the SARB's inflation targeting policy, and is it appropriate?

    Get PDF
    Since its adoption of inflation targeting in 2000, the South African Reserve Bank has been accused of placing too great an emphasis on meeting its inflation target, and too small an emphasis on the high rate of unemployment in the country. On the other hand, the SARB has regularly missed its inflation target. We attempt to characterise the SARB's inflation targeting policy by analysing the Bank's interest rate setting behaviour before and after the adoption of inflation targeting, making use of Taylor-like rules to determine whether the SARB has emphasised inflation, the output gap, the real exchange rate, and asset price deviations in its monetary policy. We find that the SARB has significantly changed its behaviour with the adoption of inflation targeting, and show that the SARB runs a very flexible inflation targeting regime, with strong emphasis on the output gap. Indeed, we find evidence that the emphasis on inflation is too low, and potentially conducive to instability in the inflation process

    Assortative mating enhances postzygotic barriers to gene flow via ancestry bundling

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    Hybridization and subsequent genetic introgression are now known to be common features of the histories of many species, including our own. Following hybridization, selection often purges introgressed DNA genome-wide. While assortative mating can limit hybridization in the first place, it is also known to play an important role in postzygotic selection against hybrids and, thus, the purging of introgressed DNA. However, this role is usually thought of as a direct one: a tendency for mates to be conspecific reduces the sexual fitness of hybrids, reducing the transmission of introgressed ancestry. Here, we explore a second, indirect role of assortative mating as a postzygotic barrier to gene flow. Under assortative mating, parents covary in their ancestry, causing ancestry to be "bundled" in their offspring and later generations. This bundling effect increases ancestry variance in the population, enhancing the efficiency with which postzygotic selection purges introgressed DNA. Using whole-genome simulations, we show that the bundling effect can comprise a substantial portion of mate choice's overall effect as a postzygotic barrier to gene flow. We then derive a simple method for estimating the impact of the bundling effect from standard metrics of assortative mating. Applying this method to data from a diverse set of hybrid zones, we find that the bundling effect increases the purging of introgressed DNA by between 1.2-fold (in a baboon system with weak assortative mating) and 14-fold (in a swordtail system with strong assortative mating). Thus, assortative mating's bundling effect contributes substantially to the genetic isolation of species
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