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This paper considers the sensitivity of policy simulation to the specification of the labour market in an Applied General Equilibrium (AGE) model of the European Union. We consider a variety of adjustments to the labour market, including the introduction of labour supply heterogeneity and...
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Traditional game theory usually relies on commonly known decision rationality meaning that choices are made in view of … their consequences (the shadow of the future). Evolutionary game theory, however, denies any cognitive deliberation by …
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