English, Article, Journal or magazine article edition: Large Deviations and Equilibrium Selection in Large Populations Alan Beggs

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Bookmark: http://trove.nla.gov.au/version/21313
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Large Deviations and Equilibrium Selection in Large Populations
Author
  • Alan Beggs
Physical Description
  • preprint
Notes
  • This paper uses the theory of large deviations to analyse equilibrium selection in one-dimensional games with large populations where the system evolves according to a jump Markov process. The equilibria selected maximise a quasi-potential function which can be determined by solving a polynomial equation. Estimates of waiting times are also given. It shows that equilibria about which there is more noise are less likely to be selected and clarifies the role of the limiting deterministic dynamic in selection.
  • equilibrum selection, large deviations, large populations, games
  • RePEc:oxf:wpaper:129
Language
  • English
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