TY - JOUR
T1 - Excess payoff dynamics in games
AU - Alós-Ferrer, Carlos
AU - Hofbauer, Josef
N1 - Publisher Copyright:
© 2022 The Author(s)
PY - 2022/9
Y1 - 2022/9
N2 - We present the family of Excess Payoff Dynamics for normal-form games, where the growth of a strategy depends only on its current proportion and the excess payoff, i.e., the payoff advantage of the strategy over the average population payoff. Requiring dependence only on the own excess payoff and a natural sign-preserving condition, the class essentially reduces to aggregate monotonic dynamics, a functional generalization of the Replicator Dynamics. However, Excess Payoff Dynamics also include a different subclass which contains the Replicator Dynamics, the Brown-von Neumann-Nash Dynamics, and other interesting examples as, e.g., satisficing dynamics. We also clarify the relation to excess demand dynamics from microeconomics.
AB - We present the family of Excess Payoff Dynamics for normal-form games, where the growth of a strategy depends only on its current proportion and the excess payoff, i.e., the payoff advantage of the strategy over the average population payoff. Requiring dependence only on the own excess payoff and a natural sign-preserving condition, the class essentially reduces to aggregate monotonic dynamics, a functional generalization of the Replicator Dynamics. However, Excess Payoff Dynamics also include a different subclass which contains the Replicator Dynamics, the Brown-von Neumann-Nash Dynamics, and other interesting examples as, e.g., satisficing dynamics. We also clarify the relation to excess demand dynamics from microeconomics.
KW - BNN dynamics
KW - Evolutionary dynamics
KW - Excess demand
KW - Excess payoff
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U2 - 10.1016/j.jet.2022.105464
DO - 10.1016/j.jet.2022.105464
M3 - Article
AN - SCOPUS:85132223348
SN - 0022-0531
VL - 204
JO - Journal of Economic Theory
JF - Journal of Economic Theory
M1 - 105464
ER -