Evolutionary Stability for Large Populations and Backward Induction

It has been shown (Hart [2002]) that the backward induction (or subgame-perfect) equilibrium of a perfect information game is the unique stable outcome for dynamic models consisting of selection and mutation, when the mutation rate is low and the populations are large, under the assumption that the expected number of mutations per generation is bounded away from zero. Here it is shown that one can dispense with this last condition. In particular, it follows that the backward induction equilibrium is evolutionarily stable for large populations.

• Type: Journal
• Year: 2006
• Where: MOR
• Authors: Ziv Gorodeisky
• Keywords: Backward Induction, MOR 2006, Mutations, Unique Stable Outcome