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 this paper, we introduce an analogue of the evolutionarily stable strategy (ESS) for correlated equilibria. We introduce a new concept―the evolutionarily stable correlation (ESC)―and prove that it generalizes the ESS. We also study analogues of perfection and properness for correlated equilibria and discuss their relationships with the ESC.