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Myatt, David P.; Wallace, Chris - Department of Economics, Oxford University - 2002

Equilibrium selection in coordination games has generated a large literature. Kandori, Mailath and Rob (1993) and Young (1993) studied dynamic models of aggregate behaviour in which agents choose best responses to observations of population play. Crucially, infrequent mistakes (`mutations`)...

Persistent link: https://www.econbiz.de/10010605025

Production Targets and Free Disposal in the Private Provision of Public Goods

Myatt, David P.; Wallace, Chris - Department of Economics, Oxford University - 2005

threshold is reached, potentially generating an equilibrium-selection problem. When the evolution of play approximates a best …

Persistent link: https://www.econbiz.de/10005090646

The Evolution of Collective Action

Myatt, David P.; Wallace, Chris - Department of Economics, Oxford University - 2005

evolution of collective action: as part of a strategy-revision process, updating players choose quantal responses to existing …

Persistent link: https://www.econbiz.de/10005090676

Rapid Evolution under Inertia

Norman, Thomas - Department of Economics, Oxford University - 2007

This paper demonstrates that inertia driven by switching costs leads to more rapid evolution in a class of games that … inertia states that allow Ellison`s (Review of Economic Studies 67, 2000, 17-45) step-by-step evolution to occur. …

Persistent link: https://www.econbiz.de/10005047778

An Evolutionary Analysis of the Volunteer`s Dilemma

Myatt, David P.; Wallace, Chris - Department of Economics, Oxford University - 2006

The volunteer`s dilemma is an asymmetric n-player binary-action game in which a public good is provided if and only if at least one player volunteers, and consequently bears some private cost. So long as the value generated for every player exceeds this private cost there are n pure-strategy...

Persistent link: https://www.econbiz.de/10005047810

Dynamically Stable Preferences

Norman, Thomas - Department of Economics, Oxford University - 2004

This paper models the indirect evolution of the preferences of a population of fully rational agents repeatedly matched … requires the extension of recent techniques for evolution on infinite strategy spaces, introducing new setwise stability …

Persistent link: https://www.econbiz.de/10005047850

When Does One Bad Apple Spoil the Barrel? An Evolutionary Analysis of Collective Action

Myatt, David P.; Wallace, Chris - Department of Economics, Oxford University - 2006

This paper studies n-player collective-action games in which a public good is produced if and only if m or more volunteers contribute to it. Quantal-response strategy revisions allow play to move between equilibria in which a team of m players successfully provide, and an equilibrium in which...

Persistent link: https://www.econbiz.de/10005047986

Evolution in Teams

Myatt, David P.; Wallace, Chris - Department of Economics, Oxford University - 2003

Team formation will often involve a coordination problem. If no-one else is contributing to a team, there is little point in an agent exerting any effort. Similarly, once a team is formed, an agent within the team will not leave, as to do so would result in team collapse; non-contributing agents...

Persistent link: https://www.econbiz.de/10005051161

Evaluation of macroeconomic models for financial stability analysis

Tsomocos, Dimitrios P; Bardsen, Gunnar - Department of Economics, Oxford University - 2006

the consequences of economic policy has increased. Alternative macroeconomic models are available for policy analyses, and …

Persistent link: https://www.econbiz.de/10010661370

Italy and the First Age of Globalization, 1861-1940

O'Rourke, Kevin Hjortshøj; James, Harold - Department of Economics, Oxford University - 2012

The paper presents trade policy as in line with that of other continental European powers, with a move to moderate … agriculture, with levels of protection falling slightly before the First World War. Monetary policy was similarly driven by the … innovative area was probably in industrial policy, where after the 1880s and again in the 1930s in response to severe shocks …

Persistent link: https://www.econbiz.de/10011133049