Econometric Society 57th European Meeting
25th August 2002 - 28th August 2002, Venice, Italy

Home Page
Programme
Papers
Presenters
 
Contact Us
Search this CD-ROM for: View the Latest Programme Information

CONTESTS OVER PUBLIC GOODS: EVOLUTIOARY STABILITY AND THE FREE-RIDER PROBLEM


Category: Economic Theory
Evolution and Learning I
Sunday 25th August 2002, 09:30 - 11:00, Room: 1.13
Session Chair(s): Wolfgang Leininger, Universität Dortmund, GERMANY

Presenter(s): Leininger, Wolfgang

Co-Author(s): none

Keyword(s): Contests, Evolutionary Stability, Public Goods

JEL(s): C79, D72, H41

Abstract:

We analyze group contests over public goods by applying the solution concept of an evolutionary stable strategy (ESS). We show that a global ESS cannot exist, because a mutant free-rider can invade any type of group behavior successfully. There does, however, exist a unique local ESS, which we identify with evolutionary equilibrium. It coincides with Nash equilibrium, the hitherto dominant solution conceptin contest theory, if and only if groups are symmetric. For asymmetric groups it always proposes a different and arguably more sensible solution than Nash equilibrium. We explore the properties of (local) ESS in detail.


View Paper

View PDF File

Filesize: 224 kb
Find this file in the
\Papers\1363\
folder of this CD-ROM.

Latest Details
View this paper in the
online Programme

Customise
Customise your Event Programme to include your favourite papers, and email details of papers to friends and colleagues with the
online Programme


Paper Reference Number: 1363

TOP OF PAGE
HOME
Econometric Society
57th European Meeting
25th August 2002 - 28th August 2002, Venice, Italy

WebMeets.com Event Management LLP
Congress Home Page: http://www.eea-esem2002.it/
Programme Home Page: http://www.eea-esem.com/EEA-ESEM/ESEM2002/Prog/
Programme and CD generated with WebMeets.com Programme Management Software
Congress Programme Organized by FEEM

This page was created on Tuesday, 9th July 2002 at 19:22 GMT.