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The Road to Extinction: Commons with Capital Markets

Dutta, Jayasri; Rowat, Colin - EconWPA - 2004

We study extinction in a commons problem in which agents have access to capital markets. When the commons grows more … quickly than the interest rate, multiple equilibria are found for intermediate commons endowments. In one of these, extinction …, there is a unique extinction date for each endowment level. …

Persistent link: https://www.econbiz.de/10005556729

Evolutionary Dynamics and Backward Induction

Hart, Sergiu - EconWPA - 1999

The backward induction (or subgame-perfect) equilibrium of a perfect information game is shown to be the unique evolutionarily stable outcome for dynamic models consisting of selection and mutation, when the mutation rate is low and the populations are large.

Persistent link: https://www.econbiz.de/10005407617

Multigame models of innovation in evolutionary economics

Gagen, M. J. - EconWPA - 2003

We incorporate information measures representing knowledge into an evolutionary model of coevolving firms and markets whereby the growing orderliness of firms potentiates a predictable progression of market exchange innovations which themselves become beneficial only with the growing orderliness...

Persistent link: https://www.econbiz.de/10005118538

Beat The Market

Wang, Fan - EconWPA - 2005

Speculation in asset market is modelled as a stochastic betting game played by finite number of players and repeated infinite times. With stochastic asset return and unkown quality of public signal, a generic adaptive learning rule is proposed and the corresponding evolutionary dynamics is...

Persistent link: https://www.econbiz.de/10005118636

Stochastic Dominance Portfolio Analysis of Forestry Assets

Heikkinen, V.-P.; Kuosmanen, Timo - EconWPA - 2002

general Stochastic Dominance (SD) criteria, focusing on the recent theoretical advances in analyzing portfolio diversification …

Persistent link: https://www.econbiz.de/10005134874

International Portfolio Investment: Theory, Evidence, and Institutional Framework

Bartram, Sohnke M.; Dufey, Gunter - EconWPA - 2001

other countries, hedge their consumption basket against ex-change rate risk, realize diversification effects and take …

Persistent link: https://www.econbiz.de/10005134901

Determinants of Agricultural and Non-Agricultural Livelihood Strategies in Rural Communities: Evidence from Eastern Nigeria

Adi, A. Bongo - EconWPA - 2005

the determinants of livelihood diversification away from agriculture as well as the manner in which different agro …-ecological determinants affect such diversification. The probability of participating in non-agricultural activities was estimated in an …-climactic variables were found to determine the nature of diversification. Against the backdrop of the recent deagrarianisation thesis …

Persistent link: https://www.econbiz.de/10005135001

Intercity Trade and the Industrial Diversification of Cities

Anas, Alex; Xiong, Kai - EconWPA - 2003

The industrial diversification of cities is explained without imposing linkages among industries. In each of two city … diversification. …

Persistent link: https://www.econbiz.de/10005062501

Managing biodiversity correctly - Efficient portfolio management as an effective way of protecting species

Figge, Frank - EconWPA - 2004

Loss of biodiversity is regarded as one of the key problems affecting the environment. In order to demonstrate the significance of biodiversity, the value of individual species or ecosystems today is generally determined in science and practice. The underlying thought is that a species or...

Persistent link: https://www.econbiz.de/10005407798

Were the Acquisitive Conglomerates Inefficient?

Klein, Peter G. - EconWPA - 1997

, favoring an agency explanation for unrelated diversification. In the 1960s, however, conglomerates were not valued at a … discount. Evidence from acquisition histories suggests that conglomerate diversification may have added value by creating …

Persistent link: https://www.econbiz.de/10005412958