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Lec 11 - Evolutionary stability: cooperation, mutation, and equilibrium

"Lec 11 - Evolutionary stability: cooperation, mutation, and equilibrium" Game Theory (ECON 159) We discuss evolution and game theory, and introduce the concept of evolutionary stability. We ask what kinds of strategies are evolutionarily stable, and how this idea from biology relates to concepts from economics like domination and Nash equilibrium. The informal argument relating these ideas toward at the end of his lecture contains a notation error [U(Ŝ,S') should be U(S',Ŝ)]. A more formal argument is provided in the supplemental notes. 00:00 - Chapter 1. Game Theory and Evolution: Evolutionarily Stable Strategies - Example 25:40 - Chapter 2. Game Theory and Evolution: Evolutionarily Stable Strategies - Discussion 30:42 - Chapter 3. Game Theory and Evolution: Evolutionarily Stable Strategies Are Always Nash Equilibria 42:32 - Chapter 4. Game Theory and Evolution: Nash Equilibria Are Not Always Evolutionarily Stable Strategies 01:03:00 - Chapter 5. Game Theory and Evolution: Evolutionarily Stable Strategies and Nash Equilibria - Discussion Complete course materials are available at the Open Yale Courses website: http://open.yale.edu/courses This course was recorded in Fall 2007.

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Tags: best response dominant strategies evolutionary stability Nash equilibrium Prisoners Dilemma pure

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