Equilibrium, evolutionary stability and gradient dynamics
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- Discussion papers (FOR) 
Considered here are equilibria, notably those that solve noncooperative games. Focus is on connections between evolutionary stability, concavity and monotonicity. It is shown that evolutionary stable points are local attractors under gradient dynamics. Such dynamics, while reflecting search for individual improvement, can incorporate myopia, imperfect knowledge and bounded rationality/competence.
UtgiverNorwegian School of Economics and Business Administration. Department of Finance and Management Science