Evolutionary Dynamics and Backward Induction [Revised]

Authors: 
Sergiu Hart
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. Keywords: games in extensive form, games of perfect information, backward induction equilibrium, subgame-perfect equilibrium, evolutionary dynamics, evolutionary stability, mutation, selection, population games. Journal of Economic Literature Classification: C7, D7, C6.

Date: 
September, 1999
Published in: 
Games and Economic Behavior 41 (2002) 227-264
Number: 
195