Characterize the stochastically stable states of the (perturbed) evolutionary process thus induced.

Characterize the stochastically stable states of the (perturbed) evolutionary process thus induced..

Recall the hybrid behavioral dynamics contemplated in Subsection

 

12.4.3 for the context in which a bilateral coordination game is played under  centralized interaction. There, player 1was postulated to adjust her behavior through

myopic best response (i.e., according to (12.36)), whereas players 2 through n

were assumed imitators among themselves (i.e., behave as in (12.35)). Apply the

same behavioral mixture to the Cournot context described in Subsection 12.4.5.1;

i.e., suppose firm 1 behaves according to (12.5) and firms 2 through behave according

to (12.3). Characterize the stochastically stable states of the (perturbed)

evolutionary process thus induced.

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Characterize the stochastically stable states of the (perturbed) evolutionary process thus induced.

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