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Weber's Law and the Biological Evolution of Risk Preferences: The Selective Dominance of the Logarithmic Utility Function
Sinn, Hans-Werner - CESifo - 2002
biological selection process in the sense that a population following any other preference for decision-making under risk will …
Persistent link: https://www.econbiz.de/10005765795
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Weber's law and the biological evolution of risk preferences : the selective dominance of the logarithmic utility function
Sinn, Hans-Werner - 2002
biological selection process in the sense that a population following any other preference for decision-making under risk will …
Persistent link: https://www.econbiz.de/10011541191
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The role of risk preferences, selection, and uncertain returns on land contracts
Lee, Jun Yeong; Durbahn, Grant; Orazem, Peter F.; … - 2023
Persistent link: https://www.econbiz.de/10014286081
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Bootstrapping Knowledge About Social Phenomena Using Simulation Models
Edmonds, Bruce - In: Journal of Artificial Societies and Social Simulation 13 (2010) 1, pp. 8-8
There are considerable difficulties in the way of the development of useful and reliable simulation models of social phenomena, including that any simulation necessarily includes many assumptions that are not directly supported by evidence. Despite these difficulties, many still hope to develop...
Persistent link: https://www.econbiz.de/10008619139
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How Darwinian Should an Economy Be?
Saint-Paul, Gilles - Institute for the Study of Labor (IZA) - 2014
This paper studies aggregate dynamics in a cobweb model where learning takes place through a selection mechanism, by … in a way that favors the most profitable firm types. Selection may be inadequate because firms are being selected on the … basis of incorrect market signals. Selection itself may reinforce such mispricing, thus generating instability. I compare …
Persistent link: https://www.econbiz.de/10011094073
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Dynamics of Change in Human-Driven and Natural Systems: Fast Forward, Slow Motion, Same Movie? A Case Study from Plant Protection
Andrivon, Didier - In: Sustainability 4 (2012) 3, pp. 384-393
Evolutionary biology and evolutionary ecology deal with change in species and ecosystems over time, and propose mechanisms to explain and predict these. In particular, they look for generic elements that will drive any organism or phylum to adaptive changes or to extinction. This paper, using...
Persistent link: https://www.econbiz.de/10010533840
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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 …
Persistent link: https://www.econbiz.de/10008794335
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Can they beat the Cournot equilibrium? Learning with memory and convergence to equilibria in a Cournot oligopoly
Vallée, Thomas; Yildizoglu, Murat - HAL - 2010
This article analyses the possibility of firms learning collusive solutions in a Cournot quantity game. Starting from the results of Vallée and Yildizoglu (2009) and of Alos-Ferrer (2004), we study the role of random experimenting, social learning (imitation), and (updated) memory in helping...
Persistent link: https://www.econbiz.de/10008794428
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Darwinism in economics and the evolutionary theory of policy-making
Schubert, Christian - 2009
According to the advocates of a Generalized Darwinism (GD), the three core Darwinian principles of variation, selection …
Persistent link: https://www.econbiz.de/10010267143
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Can Darwinism be 'generalized' and of what use would this be?
Levit, Georgy S.; Hossfeld, Uwe; Witt, Ulrich - 2010
It has been suggested that, by generalizing Darwinian principles, a common foundation can be derived for all scientific disciplines dealing with evolutionary processes, especially for evolutionary economics. In this paper we show, however, that the principles of such a Generalized Darwinism are...
Persistent link: https://www.econbiz.de/10010281846