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The long-run evolution of infrastructure services
Goldsmith, Hugh - 2014
This paper traces the 11,000 year evolution of infrastructure systems during major periods of innovation, expansion and diffusion. Throughout history, the key role of the State is self-evident. Private sector involvement has waxed and waned over millennia, although at times it has been pivotal...
Persistent link: https://www.econbiz.de/10010434094
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Dynamics of open source movements
Athey, Susan; Ellison, Glenn - 2010
This paper considers a dynamic model of the evolution of open source software projects, focusing on the evolution of quality, contributing programmers, and users who contribute customer support to other users. Programmers who have used open source software are motivated by reciprocal altruism to...
Persistent link: https://www.econbiz.de/10008697802
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Evolutionary stability in fiscal competition
Wagener, Andreas - 2016
In fiscal interaction, a policy is evolutionarily stable if, once adopted by all governments, jurisdictions that deviate from it fare worse than those that stick to it. Evolutionary stability is the appropriate solution concept for models of imitative learning (policy mimicking). We show that...
Persistent link: https://www.econbiz.de/10011436093
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Initial luck, status-seeking and snowballs lead to corporate success and failure : presented at CESifo Area Conference on Industrial Organization, March 2004
Glazer, Amihai; Kanniainen, Vesa; Poutvaara, Panu - 2004
Corporate success stories often resemble a snowball. We show how initial luck in hiring talented people, the resulting technological advantage, superior corporate culture, and statusseeking by workers and by consumers can make small initial differences generate large differences over time.
Persistent link: https://www.econbiz.de/10011449539
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International trade and cultural diversity : a model of preference selection
Bala, Vankatesh; Long, Ngo Van - 2004
We consider the evolution of preferences when trade occurs between two countries. We show that if one country is much larger than the other, its preferences can eventually take over the preferences of the second country. This result may provide an explanation of why small countries sometimes...
Persistent link: https://www.econbiz.de/10011450172
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Long-run selection and the work ethic
Josephson, Jens (contributor); Wärneryd, Karl (contributor) - 2004
That individuals contribute in social dilemma interactions even when contributing is costly is a well-established observation in the experimental literature. Since a contributor is always strictly worse off than a non-contributor the question is raised if an intrinsic motivation to contribute...
Persistent link: https://www.econbiz.de/10002521604
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Reactivity in economic science
Frey, Bruno S. - 2017
matter of course that economics should become a natural science. Such a characterization misses an essential aspect of a …
Persistent link: https://www.econbiz.de/10011700543
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Awards in economics : towards a new field of inquiry
Frey, Bruno S.; Neckermann, Susanne - 2009
. First steps towards integrating awards into economic theory are undertaken. -- Awards ; non-monetary incentives ; economics …Awards play a large role in the economics profession, which is documented by the large variety and number of awards …. However, little scientific attention has been devoted to them. This paper documents the prevalence of awards in the economics …
Persistent link: https://www.econbiz.de/10003806044
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What can economists learn from happiness research?
Frey, Bruno S.; Stutzer, Alois - 2001
happiness research is able to contribute important insights for economics. We report how the economic variables income … some of the consequences for economic policy and for economic theory. …
Persistent link: https://www.econbiz.de/10011398921
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Optimal asset allocation with factor models for large portfolios
Pesaran, M. Hashem (contributor);  … - 2008
This paper characterizes the asymptotic behaviour, as the number of assets gets arbitrarily large, of the portfolio weights for the class of tangency portfolios belonging to the Markowitz paradigm. It is assumed that the joint distribution of asset returns is characterized by a general factor...
Persistent link: https://www.econbiz.de/10003720566