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Evolutionary games with two timescales

Borkar, VS and Jain, Sanjay and Rangarajan, Govindan (1999) Evolutionary games with two timescales. In: Physlca D, 125 (1-2). pp. 155-166.

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Abstract

We consider a two timescale model of learning by economic agents wherein active or 'ontogenetic' learning by individuals takes place on a fast scale and passive or 'phylogenetic' learning by society as a whole on a slow scale, each affecting the evolution of the other. The former is modelled by the Monte Carlo dynamics of physics, while the latter is modelled by the replicator dynamics of evolutionary biology. Various qualitative aspects of the dynamics are studied in some simple cases, both analytically and numerically, and its role as a useful modelling device is emphasized.

Item Type: Journal Article
Additional Information: Copyright of this article belongs to Elsevier Science.
Keywords: Evolutionary games;Monte Carlo dynarmcs;Rephcator dynamacs;Singularly perturbed daffereuual equataons
Department/Centre: Division of Physical & Mathematical Sciences > Centre for Theoretical Studies (Ceased to exist at the end of 2003)
Division of Electrical Sciences > Computer Science & Automation
Division of Physical & Mathematical Sciences > Mathematics
Depositing User: Hemanth Rao K.R.
Date Deposited: 17 Jul 2009 11:26
Last Modified: 27 Feb 2019 10:22
URI: http://eprints.iisc.ac.in/id/eprint/19319

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