Evolutionary parsimony: an equilibrium refinement that sharply constrains the space of outcomes in games with multiple equilibria.

Abstract excerpt

Evolutionary game theory loses much of its predictive power in games with multiple equilibria. For such games, this article introduces a simple and general refinement principle, grounded in evolutionary dynamics, that sharply narrows the set of possible outcomes. Rather than designing strategies from scratch, evolution shapes them gradually through the accumulation of adaptive mutations, the vast majority of...

Topics

• Game Theory
• Biological Evolution
• Mutation