This paper analyzes a dynamic stochastic equilibrium model of an asset market based on behavioral and evolutionary principles. The core of the model is a non-traditional game-theoretic framework combining elements of stochastic dynamic games and evolutionary game theory. Its key characteristic...

Nicholas Georgescu-Roegen was described by Paul Samuelson as 'an economist's economist'. This book honors him by discussing his theories on a wide range of issues but particularly on environmental and energy economics. It is a dynamic tribute which extends his work to address the problems the...