| Population dynamics with a stable efficient equilibrium (2007) | |||||||||
Abstract | |||||||||
| We propose a game-theoretic dynamics of a population of replicating individuals. It consists of two parts: the standard replicator one and a migration between two different habitats. We consider symmetric two-player games with two evolutionarily stable strategies: the efficient one in which the population is in a state with a maximal payoff and the risk-dominant one where players are averse to risk. We show that for a large range of parameters of our dynamics, even if the initial conditions in both habitats are in the basin of attraction of the risk-dominant equilibrium (with respect to the standard replication dynamics without migration), in the long run most individuals play the efficient strategy.. Comment: 12 pages | |||||||||
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