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7 - Evolutionary Game Theory

from Part II - Game Theory

Published online by Cambridge University Press:  05 June 2012

David Easley
Affiliation:
Cornell University, New York
Jon Kleinberg
Affiliation:
Cornell University, New York
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Summary

In Chapter 6, we developed the basic ideas of game theory, in which individual players make decisions and the payoff to each player depends on the decisions made by all. As we saw there, a key question in game theory is to reason about the behavior we should expect to see when players take part in a given game.

The discussion in Chapter 6 was based on considering how players simultaneously reason about what the other players may do. In this chapter, on the other hand, we explore the notion of evolutionary game theory, which shows that the basic ideas of game theory can be applied even to situations in which no individual is overtly reasoning or even making explicit decisions. Instead, game-theoretic analysis will be applied here to settings in which individuals can exhibit different forms of behavior (including those that may not be the result of conscious choices), and we will consider which forms of behavior have the ability to persist in the population and which forms of behavior have a tendency to be driven out by others.

As its name suggests, evolutionary game theory has been applied most widely in the area of evolutionary biology, the domain in which the idea was first articulated by John Maynard Smith and G. R. Price [375, 376]. Evolutionary biology is based on the idea that an organism's genes largely determine its observable characteristics, and hence its fitness, in a given environment. Organisms that are more fit will tend to produce more offspring, causing genes that provide greater fitness to increase their representation in the population.

Type
Chapter
Information
Networks, Crowds, and Markets
Reasoning about a Highly Connected World
, pp. 189 - 206
Publisher: Cambridge University Press
Print publication year: 2010

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