Game Theory: Replicator Dynamics

Game Theory: Replicator Dynamics

The replicator equation is the first and most important game dynamic studied in connection with evolutionary game theory. The replicator equation and other deterministic game dynamics have become essential tools over the past 40 years in applying evolutionary game theory to behavioral models in the biological and social sciences. These models show the growth rate of the proportion of organisms using a certain strategy. As we will illustrate, this growth rate is equal to the difference between the average payoff of that strategy and the average payoff of the population as a whole.

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Introduction, overview, uses of game theory, some applications and examples, and formal definitions of: the normal form, payoffs, strategies, pure strategy Nash equilibrium, dominant strategies.

This course is an introduction to game theory and strategic thinking. Ideas such as dominance, backward induction, Nash equilibrium, evolutionary stability, commitment, credibility, asymmetric information, adverse selection, and signaling are discussed and applied to games played in class and to examples drawn from economics, politics, the movies, and elsewhere.

You can find complete course here: https://www.youtube.com/watch?v=N3ViZYuDsVM&list=PLERuqH6mOSZQc1tWaS6FMEqWSdb613lMv

Courtesy: Systems Innovation Usage: Usage: Public Domain (https://creativecommons.org/licenses/publicdomain/)

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