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Local interactions refer to social and economic phenomena where individuals' choices are influenced by the choices of others who are `close' to them socially or geographically. This represents a fairly accurate picture of human experience. Furthermore, since local interactions imply particular...
Persistent link: https://www.econbiz.de/10008591372
Local interactions refer to social and economic phenomena where individuals' choices are influenced by the choices of others who are `close' to them socially or geographically. This represents a fairly accurate picture of human experience. Furthermore, since local interactions imply particular...
Persistent link: https://www.econbiz.de/10008671564
Local interactions refer to social and economic phenomena where individuals' choices are influenced by the choices of others who are ‘close’ to them socially or geographically. This represents a fairly accurate picture of human experience. Furthermore, since local interactions imply...
Persistent link: https://www.econbiz.de/10008679137
Social interactions arguably provide a rationale for several important phenomena, from smoking and other risky behavior in teens to e.g., peer effects in school performance. We study social interactions in dynamic economies. For these economies, we provide existence (Markov Perfect Equilibrium...
Persistent link: https://www.econbiz.de/10010616521
Social interactions arguably provide a rationale for several important phenomena, from smoking and other risky behavior in teens to e.g., peer effects in school performance. We study social interactions in dynamic economies. For these economies, we provide existence (Markov Perfect Equilibrium...
Persistent link: https://www.econbiz.de/10010933671
We set up an analytical framework focusing on the problem of interaction over time when economic agents are characterized by various types of distributional social preferences. We develop an evolutionary approach in which individual preferences are endogenous and account for the evolution of...
Persistent link: https://www.econbiz.de/10005029752
Entscheidungstheorie durch Ethik und Neurobiologie in Frage gestellt wird. Nach dem in ihm entwickelten Verständnis von Unternehmensethik …This paper analyses whether freedom of decision as a crucial precondition of normative deci-sion theory is questioned … by ethics and neurobiology. It argues for an understanding of busi-ness ethics which sees the economic agents’ freedom of …
Persistent link: https://www.econbiz.de/10005649761
We introduce a new kind of projection dynamics by employing a ray-projection both locally and globally. By global (local) we mean a projection of a vector (close to the unit simplex) unto the unit simplex along a ray through the origin. Using a correspondence between local and global...
Persistent link: https://www.econbiz.de/10005765317
We present two new notions of evolutionary stability, the truly evolutionarily stable state (TESS) and the generalized evolutionarily stable equilibrium (GESE). The GESE generalizes the evolutionarily stable equilibrium (ESE) of Joosten [1996]. An ESE attracts all nearby trajectories...
Persistent link: https://www.econbiz.de/10008476351
This paper studies generic properties of Markov perfect equilibria in dynamic stochastic games. We show that almost all dynamic stochastic games have a finite number of locally isolated Markov perfect equilibria. These equilibria are essential and strongly stable. Moreover, they all admit...
Persistent link: https://www.econbiz.de/10008562484