Citation:
Hart, Sergiu . “Evolutionary Dynamics And Backward Induction [Revised]”. Discussion Papers 1999. Web.
Abstract:
The backward induction (or subgame-perfect) equilibrium of a perfect information game is shown to be the unique evolutionarily stable outcome for dynamic models consisting of selection and mutation, when the mutation rate is low and the populations are large. Keywords: games in extensive form, games of perfect information, backward induction equilibrium, subgame-perfect equilibrium, evolutionary dynamics, evolutionary stability, mutation, selection, population games. Journal of Economic Literature Classification: C7, D7, C6.