10 research outputs found
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