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Cognitive Economics is the economics of what is in people's minds. It is a vibrant area of research (much of it within … Behavioral Economics, Labor Economics and the Economics of Education) that brings into play novel types of data—especially novel … Welfare Economics. A key theme of Cognitive Economics is finite cognition (often misleadingly called “bounded rationality …
Persistent link: https://www.econbiz.de/10013030618
At each age an organism produces energy by foraging and allocates this energy among reproduction, survival, growth, and intergenerational transfers. We characterize the optimal set of allocation decisions that maximizes reproductive fitness. Time preference (the discount rate) is derived from...
Persistent link: https://www.econbiz.de/10012770874
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...
Persistent link: https://www.econbiz.de/10013124844
In a model of evolution driven by conflict between societies more powerful states have an advantage. When the influence of outsiders is small we show that this results in a tendency to hegemony. In a simple example in which institutions differ in their "exclusiveness" we find that these...
Persistent link: https://www.econbiz.de/10013079202
This paper documents the speed of evolution (or lack thereof) of a range of values and beliefs of different generations of US immigrants, and interprets the evidence in the light of a model of socialization and identity choice. Convergence to the norm differs greatly across cultural attitudes....
Persistent link: https://www.econbiz.de/10013053157
Firm- and plant-level empirical studies typically find that trade liberalization squeezes price-cost margins among import-competing firms, that this heightened competitive pressure induces productivity gains among these same firms, and that further efficiency gains come from market share...
Persistent link: https://www.econbiz.de/10013213407
Cultural transmission arguably plays an important role in the determination of many fundamental preference traits (e.g., discounting, risk aversion and altruism) and most cultural traits, social norms, and ideological tenets ( e.g., attitudes towards family and fertility practices, and attitudes...
Persistent link: https://www.econbiz.de/10013136354
States. We describe the central economic questions raised by AD. While there is overlap with the economics of aging, the … defining features of the ‘economics of Alzheimer's Disease' is an emphasis on cognitive decline, choice by cognitively impaired … public programs for AD. These topics overlap with many areas of economics -- labor economics, health economics, public …
Persistent link: https://www.econbiz.de/10012824275
that—in contrast to current conventional wisdom in policy-oriented research in monetary economics—the role of money in …
Persistent link: https://www.econbiz.de/10012871153
This essay offers a brief history of macroeconomics, together with an evaluation of what has been learned over the past several decades. It is based on the premise that the field has evolved through the efforts of two types of macroeconomist%u2014 those who understand the field as a type of...
Persistent link: https://www.econbiz.de/10012779829