Showing 1 - 10 of 64
This a chapter for the Handbook of Social Choice and Welfare. It deals with the theory of fairness applied to …
Persistent link: https://www.econbiz.de/10008793496
Building upon recent work of Gintis, we study evolutionary dynamics in an economy with Leontieff preferences and corner endowments for which the equilibrium is completely indeterminate. We exhibit a class of dynamics which selects, via stochastic stability, the equilibrium minimizing the...
Persistent link: https://www.econbiz.de/10010738585
We present a mathematical model for the analysis of the bargaining games based on private prices used by Gintis to simulate the dynamics of prices in exchange economies, see [Gintis 2007]. We then characterize, in the Scarf economy, a class of dynamics for which the Walrasian equilibrium is the...
Persistent link: https://www.econbiz.de/10010635133
In two recent contributions, Herbert Gintis introduces agent-based imitation models built upon evolutionary bargaining games where agents use private prices as strategies. He reports surprising convergence results for simulations performed in exchange economies where goods are strict complement....
Persistent link: https://www.econbiz.de/10010635151
On démontre la stabilité de l'équilibre dans une économie walrasienne complètement décentralisée dans laquelle les prix sont fixés par les agents économiques et où échange et production ont lieu hors équilibre.
Persistent link: https://www.econbiz.de/10011025559
status or relative income on work effort. We find a strong effect of others' incomes on individual effort decisions in both … datasets. The individual's rank in the income distribution has a more powerful effect on effort than does others' average … income rank, the width of the relevant income distribution matters, with effort increasing in the distance from the bottom of …
Persistent link: https://www.econbiz.de/10010930217
This article investigates the relationship between optimal gear selectivity and effort cost in the fishing industry We … first show that optimal selectivity depends negatively on the level of effort cost, but that this relationship is not … continuous. Optimal selectivity switches when real effort cost goes beyond a certain level, and this switch induces a non …
Persistent link: https://www.econbiz.de/10010820983
The goal of our paper is to analyze the differences in terms of effort sensitivity to monetary incentive schemes … incentives like performance pay would be less effective in inducing effort in the nonprofit sector as nonprofit workers are ready … to donate labour to their employers. Using workers' stated sensitivity of effort to current and hypothetical use of …
Persistent link: https://www.econbiz.de/10010821232
status or relative income on work effort. We find a strong effect of others' incomes on individual effort decisions in both … datasets. The individual's rank in the income distribution has a more powerful effect on effort than does others' average … income rank, the width of the relevant income distribution matters, with effort increasing in the distance from the bottom of …
Persistent link: https://www.econbiz.de/10008790979
Cet article relate les résultats d'une expérience portant sur l'effet des comparaisons de salaire sur les décisions d'effort … salaire égal, les individus situés à un rang plus faible dans la hiérarchie des salaires fournissent significativement moins d'effort …, ils réduisent leur effort en réaction à un déclassement salarial ou social. …
Persistent link: https://www.econbiz.de/10008791906