Open AccessDynamics in stochastic evolutionary models
Author(s) -
Levine David K.,
Modica Salvatore
Publication year - 2016
Publication title -
theoretical economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.404
H-Index - 32
eISSN - 1555-7561
pISSN - 1933-6837
DOI - 10.3982/te1978
Subject(s) - ergodic theory , evolutionary dynamics , dynamics (music) , mathematical economics , china , evolutionary theory , communism , stochastic dynamics , economics , mathematics , computer science , sociology , statistical physics , political science , epistemology , philosophy , pure mathematics , law , physics , demography , population , pedagogy , politics
We characterize transitions between stochastically stable states and relative ergodic probabilities in the theory of the evolution of conventions. We give an application to the fall of hegemonies in the evolutionary theory of institutions and conflict, and illustrate the theory with the fall of the Qing dynasty and the rise of communism in China.