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The role and evolution of central authorities

Frijters, Paul; Tieman, Alexander F. - 1999

In this paper we argue that authorities aid cooperation by means ofdirect coordination or the enforcement of re-commitment devices suchas contract laws.Credible threats of violence allow this role. In alocal interaction model, an authority forms if mutually connected individuals with sufficient...

Persistent link: https://www.econbiz.de/10011302150

Evolutionary thinking in environmental economics

Bergh, Jeroen C. J. M. van den - 2007

Evolutionary and environmental economics have a potentially close relationship. This paper reviews past and identifies potential applications of evolutionary concepts and methods to environmental economics. This covers a number of themes: resource use and ecosystem management; growth and...

Persistent link: https://www.econbiz.de/10011350354

Evolution of harvesting strategies : replicator and resource dynamics

Noailly, Joëlle; Bergh, Jeroen C. J. M. van den; … - 2001

Economic theories of managing renewable resources, such as fisheries and forestry, traditionally assume that individual harvesters are perfectly rational and thus able to compute the harvesting strategy that maximizes their discounted profits. The current paper presents an alternative approach...

Persistent link: https://www.econbiz.de/10011316860

Optimal diversity in investments with recombinant innovation

Bergh, Jeroen C. J. M. van den; Zeppini-Rossi, Paolo - 2008

We address the notion of dynamic, endogenous diversity and its role in theories of investment and technological innovation. We develop a formal model of an innovation arising from the combination of two existing modules with the objective to optimize the net benefits of diversity. The model...

Persistent link: https://www.econbiz.de/10011377094

Who are the behavioral economists and what do they say?

Heukelom, Floris - 2007

exogenous uncertainty, which can be analyzed with decision theory. It employs traditional economics as a nor! mative benchmark …-making to be a problem of strategic interaction, in which the uncertainty is endogenous. Its main tool is game theory. It …

Persistent link: https://www.econbiz.de/10011372527

The origin of prospect theory, or testing the intuitive statistician

Heukelom, Floris - 2005

The origin of prospect theory is the desire to test the intuitive statistician in the real world. The development of … this theory by the cognitive psychologists Kahneman and Tversky can be traced to the former's work in cognitive … psychophysics, in which deviations from average behavior are termed (statistical) errors; and the latter's work on decision theory …

Persistent link: https://www.econbiz.de/10011346453