When Will Payoff Maximization Survive?

Authors: 
Werner Guth & Bezalel Peleg
Abstract: 

Survival of the fittest means that phenotypes behave as if they would maximize reproductive success. An indirect evolutionary analysis allows for stimuli which are not directly related to reproductive success although they affect behavior. One first determines the solution for all possible constelations of stimuli and then the evolutionarily stable stimuli. Our general analysis confirms the special results of former studies that survival of the fittest in case of commonly known stimuli requires either that own success does not depend on other's behavior or that other's behavbior is not influenced by own stimuli. When stimuli are private information one can derive similar necessary conditions for the survival of the fittest.

Date: 
June, 1997
Published in: 
Journal of Evolutionary Economics 11 (2001), 479-499
Number: 
148