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Convergence in the Finite Cournot Oligopoly with Social and Individual Learning
Vallée, Thomas; Yildizoglu, Murat - HAL - 2009
selection dynamics to analyze this case. Vriend (2000) proposes using a genetic algorithm for studying learning dynamics in this … game and obtains convergence to Cournot equilibrium with individual learning. The resulting convergence has been questioned … are behind these contradictory results and underlines the specific role of the spite effect. We show why social learning …
Persistent link: https://www.econbiz.de/10008794335
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An Explanation of Generic Behavior in an Evolving Financial Market
Joshi, Shareen; Bedau, Mark A. - Santa Fe Institute - 1998
behavior that emerge in the market as a function of evolutionary learning rate, and to explain these emergent behaviors. We …
Persistent link: https://www.econbiz.de/10005790623
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Convergence in Finite Cournot Oligopoly with Social and Individual Learning
VALLEE, Thomas; YILDIZOGLU, Murat - Groupe de Recherche en Économie Théorique et … - 2007
) proposes to use genetic algorithm for studying learning dynamics in this game and obtains convergence to Cournot equilibrium … with individual learning. We show in this article how social learning gives rise to Walras equilibrium and why, in a … general setup, individual learning can effectively yield convergence to Cournot instead of Walras equilibrium. We illustrate …
Persistent link: https://www.econbiz.de/10005697627
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Evolutionary economics and household behavior
Horioka, Charles - 2014
neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10010390070
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Evolutionary economics and household behavior
Horioka, Charles - 2014
neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10010390395
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Cricketsim: a Genetic and Evolutionary Computer Simulation
Wagner, Kyle; Shaw, Kerry - In: Journal of Artificial Societies and Social Simulation 11 (2007) 1, pp. 3-3
We present cricketsim, an individual-based simulator of species and community dynamics that allows experimenters to manipulate genetic and evolutionary parameters as well as parameters affecting the simulated environment and its inhabitants. The simulator can model genotypic and phenotypic...
Persistent link: https://www.econbiz.de/10005481621
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Evolutionary economics and household behavior
Horioka, Charles Yuji - 2014
neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10011421455
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Evolutionary economics and household behavior
Horioka, Charles Yuji - 2014
neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10010398499
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Some evolutionary foundations for price level rigidity
Saint-Paul, Gilles - 2002
This paper shows that price rigidity evolves in an economy populated by imperfectly rational agents who experiment with alternative rules of thumb. In the model, firms must set their prices in face of aggregate demand shocks. Their payoff depends on the level of aggregate demand, as well as on...
Persistent link: https://www.econbiz.de/10011409938
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The endowment effect as blessing
Frenkel, Sivan; Heller, Yuval; Teper, Roee - 2017
We study the idea that seemingly unrelated behavioral biases can coevolve if they jointly compensate for the errors that any one of them would give rise to in isolation. We suggest that the "endowment effect" and the "winner's curse" could have jointly survived natural selection together. We...
Persistent link: https://www.econbiz.de/10011661133