TY  - GEN
AB  - We consider a model of stochastic evolution under general noisy best response
protocols, allowing the probabilities of suboptimal choices to depend on their payoff
consequences. Our analysis focuses on behavior in the small noise double limit: we
first take the noise level in agents’ decisions to zero, and then take the population
size to infinity. We show that in this double limit, escape from and transitions between
equilibria can be described in terms of solutions to continuous optimal control
problems. These are used in turn to characterize the asymptotics of the the stationary
distribution, and so to determine the stochastically stable states. The control problems
are tractable in certain interesting cases, allowing analytical descriptions of the escape
dynamics and long run behavior of the stochastic evolutionary process.
DA  - 2014
LA  - eng
PY  - 2014
SN  - 0931-6558
SP  - 43-
TI  - Large Deviations and Stochastic Stability in the Small Noise Double Limit, I: Theory
UR  - https://nbn-resolving.org/urn:nbn:de:0070-pub-29014883
Y2  - 2024-11-22T04:30:18
ER  -