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Game Theory: Lecture 11 Transcript
Overview:
We discuss evolution and game theory, and introduce the concept of evolutionary stability. We ask what kinds of strategies are evolutionarily stable, and how this idea from biology relates to concepts from economics like domination and Nash equilibrium. The informal argument relating these ideas toward at the end of his lecture contains a notation error [U(?,S) should be U(S,?)]. A more formal argument is provided in the supplemental notes.
October 10, 2007 back
Professor Ben Polak: So were going to do a new topic today, were going to talk about evolution. Were going to talk about the connection between evolution and Game Theory. Now theres going to be an extra reading--Ive already emailed you about this--theres going to be an extra reading on this for the people who want it. Im going to--Theres a reading packet thats available to anybodywho wants it. Iemailed you all, the website where you can order that reading packet and figure out where to pick it up. Its not compulsory. You dont have to look at that reading packet. Its just that itmight help. In addition,as with last Wednesday, since some of the material here is new, I have written a handout that goes with this lecture and that handout will appear magically this afternoon on the website. So if thingstoday are fast, dont worry theres a handout that goes with it.
All right, so why look at evolution in the context of Game Theory? There are really two reasons. The first reason is because of the influence of Game Theory on biology. It turns out that in the last few decades, theres been an enormous amount of work done in biology, in particular, looking at animal behavior and using Game Theory to analyze that animal behavior.
And just to give you a loose idea about how this works, the idea is to relate strategies with genes, or at least a phenotype of those genes, and to relate payoffs to geneticfitness. So the idea is that strategies are related to genes and the payoffs in
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