Building 53 Room 4025, Highfield Campus, 4-5pm. Refreshments served after the talk.
“In the first part of the talk I will discuss the effects of intrinsic noise on the dynamics of evolutionary systems in game theory. These are conventionally described by deterministic differential equations, an approximation valid only for infinite populations. Demographic or intrinsic noise in finite populations can have profound consequences on the dynamics and lead to new phenomena such as extinction and fixation, and to noise-driven quasi cycles. I will describe how these can be characterised in simulations and with methods from statistical physics.
In the second part of the talk I will discuss the outcome of learning in complicated games with a large number of moves. I will show that for a large range of randomly drawn games the outcome is high-dimensional chaos, limiting the ability of players to learn to play Nash equilibria. I will discuss consequences for modelling approaches in economics and finance, especially those built around equilibrium concepts.
Tobias Galla, J. Doyne Farmer, Proc. Nat. Acad. Sci, Early Edition http://intl.pnas.org/content/early/2013/01/03/1109672110.abstract
Alex J. Bladon, Tobias Galla, and Alan J. McKane, Phys. Rev. E 81, 066122 (2010)
Tobias Galla, Phys. Rev. Lett. 103, 198702 (2009)”