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On the fragility of sunspot equilibria under learning and evolutionary dynamics

Berardi, Michele - In: Journal of Economic Behavior & Organization 112 (2015) C, pp. 251-265

In this article, we investigate the possibility of sunspot equilibria to emerge from a process of learning and …

Persistent link: https://www.econbiz.de/10011263927

Learning and evolution of altruistic preferences in the Centipede Game

Gamba, Astrid - In: Journal of Economic Behavior & Organization 85 (2013) C, pp. 112-117

Several studies show that evolution favors non-selfish preferences only if preference types are observable. We present a new evolutionary scenario applied to the Centipede Game, where we adopt self-confirming equilibrium to capture behavior. We show that altruism may be evolutionarily successful...

Persistent link: https://www.econbiz.de/10010608200

Costly information and the evolution of self-organization in a small, complex economy

Wilson, James; Hill, J.; Kersula, M.; Wilson, C.L.; … - In: Journal of Economic Behavior & Organization 90 (2013) S, pp. 76-76

systems, occurs not from a genetic mechanism, but from individual learning. We use an evolutionary computational methodology … to explore the way individual learning and adaptation lead to the evolution of persistent, self-organized social and … economic activity depends upon the way the environment frames the costs of individual learning and adaptation. We consider …

Persistent link: https://www.econbiz.de/10010678983

Learning to make better strategic decisions

Cardella, Eric - In: Journal of Economic Behavior & Organization 84 (2012) 1, pp. 382-392

decisions. This paper experimentally investigates how the decision making quality of an agent's opponent impacts learning …-by-doing (LBD) and learning-by-observing (LBO) in a 2-player strategic game. Specifically, does LBD become more effective when …

Persistent link: https://www.econbiz.de/10010594601

Heterogeneous gain learning and the dynamics of asset prices

LeBaron, Blake - In: Journal of Economic Behavior & Organization 83 (2012) 3, pp. 424-445

This paper presents a new agent-based financial market. It is designed to be both simple enough to gain insights into the nature and structure of what is going on at both the agent and macro levels, but remain rich enough to allow for many interesting evolutionary experiments. The model is...

Persistent link: https://www.econbiz.de/10010594602

Saving response to unemployment of a sibling

Tokuoka, Kiichi - In: Journal of Economic Behavior & Organization 89 (2013) C, pp. 58-75

financial crisis), this paper considers the hypothesis that a household's saving rate rises through informal learning after a … sibling (direct or in-law) has been unemployed. The empirical results in this paper are consistent with the learning …

Persistent link: https://www.econbiz.de/10010664296

Optimal tolerance for failure

Siegert, Caspar; Trepper, Piers - In: Journal of Economic Behavior & Organization 109 (2015) C, pp. 41-55

We consider the problem of an employer who has to choose whether to reemploy agents with a positive track record or agents who were unsuccessful. While previously successful managers are likely to be of high ability, they have also accumulated wealth and will be harder to motivate in the future....

Persistent link: https://www.econbiz.de/10011190118

Taxation, income redistribution and debt dynamics in a seven-equation model of the business cycle

Colacchio, Giorgio - In: Journal of Economic Behavior & Organization 106 (2014) C, pp. 140-165

In this paper we investigate the economic dynamics of a seven-equation model of the business cycle. The main distinctive features of the model are related to: (a) the role played by the public sector in redeploying income between workers and capitalists, since it is assumed that the bargaining...

Persistent link: https://www.econbiz.de/10010930948

A discrete choice model of transitions to sustainable technologies

Zeppini, Paolo - In: Journal of Economic Behavior & Organization 112 (2015) C, pp. 187-203

endogenous learning curves stands as a fundamental factor of sustainable transitions. For this to work, the positive feedback of …

Persistent link: https://www.econbiz.de/10011263904

Price-taking behavior versus continuous dynamic optimizing

Huang, Weihong - In: Journal of Economic Behavior & Organization 78 (2011) 1, pp. 37-50

In a quantity-competition oligopoly, previous studies have shown that a price-taking firm can outperform any rival with identical technology that produces at a different output level at any intertemporal equilibrium. This research seeks to examine this seemingly counter-intuitive fact in a...

Persistent link: https://www.econbiz.de/10010573074