| Título: | Multi-level evolution in population games |
| Autores: |
Canals, José Vega-Redondo, Fernando |
| Fecha: | 1998 |
| Publicador: | Springer |
| Fuente: | |
| Tipo: |
Article PeerReviewed |
| Tema: | HB Economic Theory |
| Descripción: | In this paper, we analyze a generalization of the evolutionary model of Kandori, Mailath, & Rob (1993) where the population is partitioned into groups and evolution takes place "in parallel" at the following two levels: (i) within groups, at the lower level; among groups, at the higher one. Unlike in their context, efficiency considerations always overcome those of risk-dominance in the process of selecting the long-run equilibrium. This provides an explicitly dynamic basis for a conclusion reminiscent of those put forward in the biological literature by the so-called theories group selection. From a normative viewpoint, it suggests the potential importance of "decentralization", here understood as local and independent interaction. |
| Idioma: | No aplica |