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Bounded rationality and economic evolution : a contribution to decision making, economics, and management
Tisdell, Clement Allan - 1996
developments in learning and game theory, transaction costs and evolutionary economics to provide new insights into economic and …
Persistent link: https://www.econbiz.de/10014473915
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Why the rich are nastier than the poor : a note on optimal punishment
Huck, Steffen; Müller, Wieland - 1998
Studying evolutionarily successful behavior we show in a general framework that when individuals maximizing payoff differentials invest resources in punishing others. Interestingly, these investments are increasing in individuals, own wealth and decreasing in the wealth of others.
Persistent link: https://www.econbiz.de/10009574881
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Evolutionary dynamics on infinite strategy spaces
Oechssler, Joerg; Riedel, Frank - 1998
. Finally, we apply this general theory to a number of applications like the Nash demand game, the War of Attrition, Cournot and …
Persistent link: https://www.econbiz.de/10009578001
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Do banks crowd in or out business ethics? : an indirect evolutionary analysis
Güth, Werner - 1998 - Rev.
The evolution of trustworthiness as a major aspect of business ethics depends crucially on whether it can be signaled. If this is impossible, only opportunistic traders will survive. Whereas previous studies have analysed detection agencies (Güth and Kliemt, 1994 and 1998) or have substituted...
Persistent link: https://www.econbiz.de/10009578022
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Trust in the shadow of the courts if judges are no better
Brennan, Geoffrey; Güth, Werner; Kliemt, Hartmut - 1997
theory ; Intrinsic motivation ; Court system ; Legal litigation ; Hobbesian problem of social order …
Persistent link: https://www.econbiz.de/10009657895
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Combining rational choice and evolutionary dynamics : the indirect evolutionary approach
Königstein, Manfred; Müller, Wieland - 1999
that are well known from game theory and evolutionary game theory to solve these games. For illustration we include two …
Persistent link: https://www.econbiz.de/10009580475
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Private information, risk aversion, and the evolution of market research
Güth, Sandra; Güth, Werner; Müller, Wieland - 2000
On a homogeneous oligopoly market informed sellers are fully aware of market demand whereas uninformed sellers only know the distribution. We first derive the market results when sellers are risk averse, similarly to Ponssard (1979) who assumed risk neutrality throughout. With the help of these...
Persistent link: https://www.econbiz.de/10009612010
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Learning to like what you have : explaining the endowment effect
Huck, Steffen; Kirchsteiger, Georg; Oechssler, Joerg - 1997
The endowment effect describes the fact that people demand much more to give up an object than they are willing to spend to acquire it. The existence of this effect has been documented in numerous experiments. We attempt to explain this effect by showing that evolution favors individuals whose...
Persistent link: https://www.econbiz.de/10009657123
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Evolutionary economics : an Edward Elgar research review
Witt, Ulrich (contributor) - 2016
Theory, Oxford: Oxford University Press -- Witt, U. (2008), "What is Specific About Evolutionary Economics?" Journal of … Evolutionary Economics, 18, 547-575 -- Schumpeter, J.A. (1934[1912]), Theory of Economic Development, Cambridge, MA: Harvard … University Press (first published as Theorie der Wirtschaftlichen Entwicklung, 1912) -- Schumpeter, J.A. (1908), Das Wesen und …
Persistent link: https://www.econbiz.de/10012419891
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Innovation, entrepreneurship and culture : the interaction between technology, progress and economic growth
Brown, Terrence E. (contributor); Ulijn, J. M. (contributor) - 2004
European integration -- 5. Schumpeter's theory of economic development revisited -- 6. Skunk works : a sign of failure, a sign …
Persistent link: https://www.econbiz.de/10012419964