Dynamics of Individual Specialization and Global Diversification in Communities

Details Dynamics of Individual Specialization and Global Diversification in Communities Dynamics of Individual Specialization and Global Diversification in Communities

1998-04-30

arxiv.org/abs/adap-org/9804004v1

Complexity, Vol. 3, No. 3, 50-56 (1998)

Physics

Condensed Matter

13 pages, Latex

Scientific paper

We discuss a model of an economic community consisting of $N$ interacting agents. The state of each agent at any time is characterized, in general, by a mixed strategy profile drawn from a space of $s$ pure strategies. The community evolves as agents update their strategy profiles in response to payoffs received from other agents. The evolution equation is a generalization of the replicator equation. We argue that when $N$ is sufficiently large and the payoff matrix elements satisfy suitable inequalities, the community evolves to retain the full diversity of available strategies even as individual agents specialize to pure strategies.

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