Abstract
The backward induction (or subgame-perfect) equilibrium of a perfect information game is shown to be the unique evolutionarily stable outcome for dynamic models consisting of selection and mutation, when the mutation rate is low and the populations are large.
Original language | English |
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Pages (from-to) | 227-264 |
Number of pages | 38 |
Journal | Games and Economic Behavior |
Volume | 41 |
Issue number | 2 |
DOIs | |
State | Published - Nov 2002 |
Keywords
- Backward induction equilibrium
- Evolutionary dynamics
- Evolutionary stability
- Games in extensive form
- Games of perfect information
- Mutation
- Population games
- Selection
- Subgame-perfect equilibrium