This extension of the rational voter model differs from prior studies in three ways: its adoption of aggregate voting data; its use of data that are non-demographic in nature; and its use of data that are time series rather than cross section. The study finds that the aggregate voter participation...

This empirical study seeks to broaden the interpretation of the “rational voter model” so as to include the potential effects of “direct democracy” on the voter participation rate. Direct democracy is assumed to take two forms: initiatives and referendums. This study tests the hypothesis...

This study empirically investigates whether the performance of the S&P 500 stock index, whose performance is treated as a surrogate for the performance of domestic stock/equity markets generally, influences the Presidential approval rating. After allowing for a variety of political factors and...

The purpose of this pedagogical study is to provide a straightforward and easily understood framework that can be used to teach the economic behavior underlying income tax evasion. We begin with presenting a brief background that reflects the research that had been done, especially for the case...

In the paper, I simulate the social network games of a portfolio selection where agents consider VaR when managing their portfolios. Such agents behave quite differently from the agents considering only the expected returns of the alternatives that are available to them in time. The level of...

In the paper we test a homogenous agent version of the Montgomery's (1991) non-cooperative wage posting model. The inclusion of intrinsic costs, related to the uncertainty when changing the alternative agents are already using, alters the outcome of the model in two respects: firstly, it...

We simulate social network games of a portfolio selection to analyze how knowledge, preferences of agents and their level of omniscience affect their decision-making. The key feature of the paper is that preferences and the level of omniscience of agents very much determine the ways agents make...

The model of social network is used to analyze the impact of the power of labor unions in the labor relations. We find that labor union capable to affect a pecuniary compensation of shirking employees lessens the motivation of employees to work and improve to the unionization rate. As a result,...

A social network has been used to simulate how agents of different levels of risk aversion under different circumstances behave in financial markets when deciding between risk-free and a risky asset. This is done by a discrete time version evolutionary game of risk-loving and risk-averse agents....