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Keeping Up With the Joneses: Competition and the Evolution of Collusion in an Oligopolistic Economy

Dixon, Huw David - C.E.P.R. Discussion Papers - 1998

An economy consists of many duopolistic markets. Firms must earn normal profits in the long run if they are to survive. Normal profits are interpreted as the long-run limit of average profits in the whole economy. We adopt the aspiration based model of firm behaviour, and link it to the economy...

Persistent link: https://www.econbiz.de/10005504330

On Market Forces and Human Evolution

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 2002

This Paper studies how an institution such as markets affects the evolution of mankind. My key point is that the forces …

Persistent link: https://www.econbiz.de/10005504779

From Stagnation to Growth: Unified Growth Theory

Galor, Oded - C.E.P.R. Discussion Papers - 2004

This Paper examines the process of development from an epoch of Malthusian stagnation to a state of sustained economic … growth. The analysis focuses on recently advanced unified growth theories that capture the intricate evolution of income per … has been widely viewed as one of the most significant challenges facing researchers in the field of growth and development …

Persistent link: https://www.econbiz.de/10005497992

Natural Selection and the Evolution of Life Expectancy

Galor, Oded; Moav, Omer - C.E.P.R. Discussion Papers - 2005

development, shedding new light on the sources of the remarkable rise in life expectancy since the Agricultural Revolution. The …

Persistent link: https://www.econbiz.de/10005498168

Culture: Persistence and Evolution

Giavazzi, Francesco; Petkov, Ivan; Schiantarelli, Fabio - C.E.P.R. Discussion Papers - 2014

This paper presents evidence on the speed of evolution (or lack thereof) of a wide range of values and beliefs of …

Persistent link: https://www.econbiz.de/10011083563

Perceiving Prospects Properly

Steiner, Jakub; Stewart, Colin - C.E.P.R. Discussion Papers - 2014

When an agent chooses between prospects, noise in information processing generates an effect akin to the winner’s curse. Statistically unbiased perception systematically overvalues the chosen action because it fails to account for the possibility that noise is responsible for making the...

Persistent link: https://www.econbiz.de/10011083577

The Biocultural Origins of Human Capital Formation

Galor, Oded; Klemp, Marc P B - C.E.P.R. Discussion Papers - 2014

and the evolution of societies from an epoch of stagnation to sustained economic growth. …

Persistent link: https://www.econbiz.de/10011083757

The Agricultural Origins of Time Preference

Galor, Oded; Özak, Ömer - C.E.P.R. Discussion Papers - 2014

This research explores the origins of the distribution of time preference across regions. It advances the hypothesis, and establishes empirically, that geographical variations in natural land productivity and their impact on the return to agricultural investment have had a persistent effect on...

Persistent link: https://www.econbiz.de/10011083828

How Darwinian should an economy be?

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 2014

This paper studies aggregate dynamics in a cobweb model where learning takes place through a selection mecanism, by which more successful firms are replicated at a higher rate. The structure of the model allows to characterize analytically the aggregate dynamics, and to compute the effect on...

Persistent link: https://www.econbiz.de/10011093687

Some Evolutionary Foundations for Price Level Rigidity

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 2002

This Paper shows that price rigidity evolves in an economy populated by imperfectly rational agents who experiment with alternative rules of thumb. In the model, firms must set their prices in the face of aggregate shocks. The payoff depends on the level of aggregate demand, as well as on their...

Persistent link: https://www.econbiz.de/10005661497