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A numerical analysis of the evolutionary stability of learning rules

Josephson, Jens (contributor) - 2001 - [Elektronische Ressource]

; Evolutionary game theory ; Evolutionary Stability ; Learning in games ; Belief learning ; Reinforcement learning … class contains perturbed versions of reinforcement and belief learning as special cases. A large population of individuals …, whereas reinforcement learning is unstable in almost all cases. I also find that in certain games, the stability of …

Persistent link: https://www.econbiz.de/10001622441

Stochastic adaption in finite games played by heterogeneous populations

Josephson, Jens (contributor) - 2001 - [Elektronische Ressource]

size. -- Bounded rationality ; Evolutionary game theory ; Imitation ; Better replies ; Markov chain ; Stochastic stability …

Persistent link: https://www.econbiz.de/10001622442

Aggregate savings when individual income varies

Flodén, Martin (contributor) - 2005 - [Elektronische Ressource]

This paper examines aggregate savings in a general equilibrium model where infinitely lived households face volatile (and possibly uncertain) income paths, hold a risk-free asset, and face a liquidity constraint. I first show that the equilibrium capital stock in an economy without uncertainty,...

Persistent link: https://www.econbiz.de/10002679474

Stochastic better-supply dynamics in games

Josephson, Jens (contributor) - 2000 - [Elektronische Ressource]

In Young (1993, 1998) agents are recurrently matched to play a finite game and almost always play a myopic best reply to a frequency distribution based on a sample from the recent history of play. He proves that in a generic class of finite n-player games, as the mutation rate tends to zero,...

Persistent link: https://www.econbiz.de/10001600008

The labor-supply elasticity and borrowing constraints : why estimates are biased

Domeij, David (contributor); Flodén, Martin (contributor) - 2001 - [Elektronische Ressource]

The labor-supply elasticity is a central element in many macroeconomic models. We argue that assumptions underlying previous econometric estimates of the intertemporal labor supply elasticity are inconsistent with incomplete markets economies. In particular, if the econometrician ignores...

Persistent link: https://www.econbiz.de/10001626699

Evolution and learning in games

Josephson, Jens - 2001

Persistent link: https://www.econbiz.de/10001628157

Population aging and international capital flows

Domeij, David (contributor); Flodén, Martin (contributor) - 2003 - [Elektronische Ressource]

We use the neoclassical growth framework to model international capital flows in an economy with exogenous demographic change. We compare model implications and actual current account data and find that the model explains a small but significant fraction of capital flows between OECD countries,...

Persistent link: https://www.econbiz.de/10001801345