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The methodological individualism and subjectivism of the Austrian tradition in economics is often associated with a methodological dualism, i.e. the claim that the nature of its subject matter, namely purposeful and intentional human action, requires economics to adopt a methodology that is...
Persistent link: https://www.econbiz.de/10010296221
between individual cognitive dispositions at the micro level and cultural phenomena at the macro level, the theory of gene …
Persistent link: https://www.econbiz.de/10010266713
features. For this purpose, Carl Menger's theory of goods is taken as a starting point. Whereas economists after the … 'marginalistic revolution' were almost exclusively concerned with the determinants of exchange value and developing price theory … connection between Menger's 19th century theory of goods and 20th century learning theories is established. The problem of how to …
Persistent link: https://www.econbiz.de/10010266740
In contrast to the usual approach taken in the literature, in which an Industry Life Cycle (ILC) is reproduced by aggregate functions, the model of this paper generates a self-organizing ILC. A general evolutionary agent-based simulation model is developed that can be adapted for specific...
Persistent link: https://www.econbiz.de/10010300629
The tremendous development of an easy access to computational power within the last 30 years has led to the widespread use of numerical approaches in almost all scientific disciplines. The first generation of simulation models was rather focused on stylized empirical phenomena. With agent-based...
Persistent link: https://www.econbiz.de/10010263008
the development of a more general theory of the determinants and the effects of TC. In turn, such theory has to deal …
Persistent link: https://www.econbiz.de/10010263572
This paper incorporates aspects of humans' evolved cognition into a formal model of cultural evolution and scrutinizes …
Persistent link: https://www.econbiz.de/10010266741
Replicator dynamic modelling (rdm) is used to discuss industrial evolution problems with heterogeneous agents. However, some of the models tend to be very complex and, therefore, analytical solutions cannot be obtained. Hence, the paper proposes to start with a relatively simple model and check...
Persistent link: https://www.econbiz.de/10010267054
An evolutionary perspective on economic behavior has to account for the influences that the human genetic endowment has on the choices the agents make. Likely to have been fixed in times of fierce selection pressure, this endowment is presumably adapted to the living conditions of early humans....
Persistent link: https://www.econbiz.de/10010286736
In this article, we provide a broad overview of the interplay among cognition, belief systems, and institutions, and …
Persistent link: https://www.econbiz.de/10010323971