Various approaches used in Agent-based Computational Economics (ACE) to model endogenously determined interactions between agents are discussed. This concerns models in which agents not only (learn how to) play some (market or other) game, but also (learn to) decide with whom to do that (or not).

This paper develops a simple model to examine the interaction between partner choice and individual behavior in games of coordination. An important ingredient of our approach is the way we model partner choice: we suppose that a player can establish ties with other players by unilaterally...

Fabio Petri's Microeconomics for the Critical Mind (2021) is an impressive tour de force in the field of microeconomic theory. It manifests the author's command of cutting edge analytical tools, concepts, and theoretical approaches both in the mainstream and in the heterodox literature. The book...

Value of Statistical Life (VSL) studies suggest that people's willingness to pay for statistical lives is consistent with their willingness to pay for identified lives. The idea that the valuations are different may be no more than an artifact of the economic method for valuing statistical...

In this paper, we analyze a dynamic stochastic general equilibrium model on how water resilience affacts economic growth and dynamic welfare with special reference to South Africa. While water may become a limiting factor for future development in general, as a drought prone and water poor...

A model is set up where migrants must choose a level of social traits and consumption of ethnic goods. As the consumption level of ethnic goods increases, the migrants become ever more different to the local population and are less assimilated. Less assimilation affects the reaction of the local...

The standard official measure of household economic well-being in the United States is gross money income. The general consensus is that such measures are limited because they ignore other crucial determinants of well-being. We modify the standard measure to account for one such determinant:...

In the presence of (at least locally) increasing returns to scale tech- nologies, the paper asks the question: does there exist an economic system which implements Pareto efficient allocations and respects the voluntary participation principle? To answer this question, the paper formulates an...