We model a firm in an institutional market setting, consisting of a production technology and its governance. The … governance consists of a hierarchical firm structure, a cost efficiency parameter,and an internal pay system. The depth of the …

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

This research suggests that a Darwinian evolution of entrepreneurial spirit played a significant role in the process of … economic development and the dynamics of inequality within and across societies. The study argues that entrepreneurial spirit … evolved non-monotonically in the course of human history. In early stages of development, risk-tolerant, growth promoting …

and Europe, evolutionary economics explains the role that diversity, selection andlearning plays in economic development …

leads to the evolution of moral or altruistic preferences. Their central result states that Homo Hamiltonenis - a type that …