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Type: Academic paper excerpt
File Size: 1.58 MB
Summary

This document discusses the application of game theory to both rational decision-making and evolutionary processes, using the Prisoner's Dilemma as a visual example. It explains how evolutionary dynamic models, where successful behaviors spread through reproduction or imitation, often converge to Nash equilibria similar to rational models. The text cites various biological and social applications, ranging from animal behavior to human rituals and indirect speech.

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"The key result for evolutionary dynamic models is that, except under extreme conditions, behavior converges to Nash equilibria."
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"Behaviors that are relatively successful will increase in frequency."
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