In this paper, we propose an evolutionary extension of Schumpeterian endogenous growth model with multi-sector by introducing the three types of natural selection: stabilizing selection, directional selection, and disruptive selection. Based on them, the survival of firms is determined in each...

In this paper, we propose an evolutionary extension of Schumpeterian endogenous growth model with multi-sector by introducing the three types of natural selection: stabilizing selection, directional selection, and disruptive selection. Based on them, the survival of firms is determined in each...

In this paper, we attempt to shed light on whether Japanese households are rational or if their behavior is influenced by culture and social norms by examining their saving and bequest behavior. To summarize our main findings, we find that Japan's household saving rate showed great volatility,...

This paper provides an introduction to the field of evolutionary economics with emphasis on the evolutionary theory of household behavior. It shows that the goal of evolutionary economics is to improve upon neoclassical economics by incorporating more realistic and empirically grounded...

This paper provides an introduction to the field of evolutionary economics with emphasis on the evolutionary theory of household behavior. It shows that the goal of evolutionary economics is to improve upon neoclassical economics by incorporating more realistic and empirically grounded...

In this paper, I analyze a variety of evidence for Japan and, where available, for the United States on bequest practices, on the importance and nature of bequest motives, on bequest division, on the willingness of individuals to help others, etc., in order to shed light on which model of...