Evolutionary Selection of an Equilibrium

Authors: 
Yossi Feinberg
Abstract: 

We analyze the long-run behavior of a population engaged in a 2x2 evolutionary game undergoing mutation effects. We assume that the rates of mutation are exogenously and randomly determined. It is shown that if high mutation rates are possible but highly improbable, then the population evolves towards the risk dominant equilibrium (Harsanyi and Selten, 1988).

Date: 
January, 1994
Published in: 
Number: 
39