Lecture 11 - Evolutionary Stability: Cooperation, Mutation, and Equilibrium

We discuss evolution and game theory, and introduce the concept of
evolutionary stability. We ask what kinds of strategies are
evolutionarily stable, and how this idea from biology relates to
concepts from economics like domination and Nash equilibrium. The
informal argument relating these ideas toward at the end of his
lecture contains a notation error [U(Ŝ,S’) should be U(S’,Ŝ)]. A
more formal argument is provided in the supplemental notes.