Article ID Journal Published Year Pages File Type
956941 Journal of Economic Theory 2013 35 Pages PDF
Abstract

Any absolutely continuous, piecewise smooth, symmetric two-player game can be extended to define a population game in which each player interacts with a large representative subset of the entire population. Assuming that players respond to the payoff gradient over a continuous action space, we obtain nonlinear integro-partial differential equations that are numerically tractable and sometimes analytically tractable. Economic applications include oligopoly, growth theory, and financial bubbles and crashes.

Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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