The motivating intuition is that the presence of nonmaximizing agents induces maximizing agents to take advantage of them and that this might magnify the effect of small deviations from maximizing behavior. This intuition is explored using a simple dynamic model. With an inflexible entry...

Constitutional arrangements affect the decisions made by a society. We study how this effect leads to preferences of citizens over constitutions; and ultimately how this has a feedback that determines which constitutions can survive in a given society. Constitutions are stylized here, to consist...

We examine how the speed of learning and best-response processes depends on homophily: the tendency of agents to associate disproportionately with those having similar traits. When agents' beliefs or behaviors are developed by averaging what they see among their neighbors, then convergence to a...