Everything about Evolutionary Game Theory totally explained
Evolutionary game theory (EGT) is the application of
population genetics-inspired models of change in gene frequency in populations to
game theory. It differs from classical
game theory by focusing on the dynamics of strategy change more than the properties of strategy
equilibria. Despite its name, evolutionary game theory is practised more by economists than biologists.
The common methodology to study the evolutionary dynamics in games is through
replicator equations. Continuous replicator equations assume
infinite populations,
continuous time,
complete mixing and that
strategies breed true. The
attractors (stable fixed points) of the equations are equivalent with
evolutionarily stable states.
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