Agent-based computational economics (ACE) is the computational study of economies modeled as evolving systems of autonomous interacting agents. Starting from initial conditions, specified by the modeler, the computational economy evolves over time as its constituent agents repeatedly interact...

This research develops an evolutionary growth theory that captures the intricate time path of life expectancy in the process of development, shedding new light on the origin of the remarkable rise in life expectancy since the Agricultural Revolution. The theory argues that social, economic and...

This paper proposes an evolutionary betting mechanism that refers to scientists' academic reputation. The mechanism provides incentives for theoretical and empirical researchers to work on joint projects, thereby producing more general findings and stylized facts that can be used in giving...

We develop a general model of best response adaptation in large populations for symmetric and asymmetric conflicts with role-switching. For special cases including the classical best response dynamics and the symmetrized best response dynamics we show that the set of Nash equilibria is...

Evolutionary arguments are often used to justify the fundamental behavioral postulates of competive equilibrium. Economists such as Milton Friedman have argued that natural selection favors profit maximizing firms over firms engaging in other behaviors. Consequently, producer efficiency, and...

Population games are stochastic processes which explicitly model Nash's (1950) mass action interpretation of Nash equilibrium. The mass action interpretation envisions a population of players for each position in the game, and that players are randomly matched for play. The hope is that the...