Question
A population consists of two types, friendlies and aggressives. Each individual interacts with a randomly chosen member of the population. When two friendlies interact, each
A population consists of two types, "friendlies" and "aggressives." Each individual interacts with a randomly chosen member of the population. When two friendlies interact, each earns 3 units. When two aggressive interact, each earns 0 units. When a friendly and an aggressive interact, the former gets a payoff of 1 unit, the latter a payoff of 5 units. The growth rate of each type is proportional to its average payoff. What will be the equilibrium population shares of each type?
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Economics Principles and Policy
Authors: William J. Baumol, Alan S. Blinder
12th edition
978-0538453677, 538453672, 978-0538453622, 538453621, 978-0538453653
