The Korean Economic Review
Evolutionarily Stable Correlation
Chongmin Kim (Kookmin University) and Kam-Chau Wong (Chinese University of Hong Kong)Year 2017Vol. 33No. 1
Abstract
Most results of evolutionary games are restricted only to the Nash equilibrium. In thispaper, we introduce an analogue of the evolutionarily stable strategy (ESS) for correlatedequilibria. We introduce a new concept―the evolutionarily stable correlation (ESC)―andprove that it generalizes the ESS. We also study analogues of perfection and properness forcorrelated equilibria and discuss their relationships with the ESC.