This article demonstrates how learning dynamics select among equilibria in a statistical discrimination model of employment. The static market model exhibits multiple equilibria. The belief revision dynamics generate a Markov market process which, in the long run, is mostly near one and only one...

This article explores the state of interplay between recent efforts to introduce complex systems methods into economics and the understanding of empirical phenomena. The empirical side of economic complexity may be divided into three general branches: historical studies, the identification of...

This paper critically examines the way in which empirical evidence is developed in support of a role for social capital in socioeconomic outcomes. Three leading studies of social capital are reviewed and in each case argued to suffer from various identification problems. A general set of...

This symposium contains three papers that discuss aspects of social capital. Social capital has become a major focus of research in many social sciences. Its increased prominence in economics reflects a general increase in interest in questions that have traditionally been deemed sociological....

In this article I consider the evaluation of racial profiling in traffic stops from a combination of welfarist and non-welfarist considerations. I argue that benefits from profiling in terms of crime reduction have not been identified and that further, the harm to those who are innocent and...