Ownership and Trade from Evolutionary Games
Kenton K. Yee
Mellon Capital Management
July 15, 2002
Two new evolutionary game models are presented where ownership and trade emerge from anarchy as evolutionary stable strategies. In these models, ownership status provides an endogenous asymmetrizing criterion enabling cheaper resolution of property conflicts.
Number of Pages in PDF File: 28
Keywords: Property, trade, evolutionary games, ownership, game theory, sociobiology, property rights
JEL Classification: K0, C7, C73, K1, K2, D7, L0, Z1, E11
Date posted: August 5, 2002
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