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Evolutionary and Behavioral game theory are two different techniques. Both seem to be inspired from biology. So is there any overlap between their theory?

Are the two complementary to each other in some way or instead they overlap with each other? Specific examples in real-world domain would be helpful.

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I don't think behavioral game theory is inspired much by biology. Rather it's motivated by the discrepancies between theoretical predictions and the choices observed in lab experiments. It seeks to improve the predictive accuracy of game theoretic models by introducing behavioral assumptions that allow players to behave in ways different from the traditional Bayesian rational benchmark.

Many behavioral game theories such as level-k and cognitive hierarchy are non-equilibrium theories. This is in contrast to evolutionary game theory which studies the stability of equilibria with respect to selected evolutionary dynamics.

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  • $\begingroup$ i made the simplification bcuz bgt is based on human nature so biology. i know its stretching it a bit $\endgroup$ – user_1_1_1 Jan 12 at 20:04
  • $\begingroup$ are there successful real world examples of significance where bgt was applied to study non-equilibrium phase and then egt was used to study equilibrium phase leading to some novel insight? $\endgroup$ – user_1_1_1 Jan 12 at 20:06
  • $\begingroup$ @user_1_1_1: It depends crucially on what you deem to be significant. $\endgroup$ – Herr K. Jan 13 at 1:09
  • $\begingroup$ any example at all on the application side will work. $\endgroup$ – user_1_1_1 Jan 13 at 4:11
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    $\begingroup$ @user_1_1_1: Camerer, C. (2003). Behavioral game theory. Princeton, NJ: Princeton University Press. This is the most comprehensive survey that I know of. $\endgroup$ – Herr K. Jan 13 at 19:20

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