This research suggests that a Darwinian evolution of entrepreneurial spirit played a significant role in the process of … economic development and the evolution of inequality within and across societies. The study argues that entrepreneurial spirit … evolved nonmonotonically in the course of human history. In early stages of development, the rise in income generated an …

This paper studies the relationship between patience and comparative development through a combination of reduced … sets of stylized facts. First, patience is strongly correlated with per capita income and the accumulation of physical …. Second, the magnitude of the patience elasticity strongly increases in the level of aggregation. To provide an interpretive …

This paper studies the relationship between patience and comparative development through a combination of reduced … sets of stylized facts. First, patience is strongly correlated with both per capita income and the accumulation of physical …. Second, the quantitative magnitude of the patience elasticity strongly increases in the level of aggregation. To provide an …

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 behavioral assumptions and technological innovation and that the goal of the …

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 behavioral assumptions and technological innovation and that the goal of the …

identify the mix of behavioral features driving our choice data. We find that these features distort choices when exchanging … cash either for time or for goods. Our model estimates suggest that valuing the time of the self-employed at 60% of the … taken away from work or leisure as a result of policy. Using rich choice data collected from farming households in western …

A group of decision makers simultaneously make contributions towards a green fund that reduces the future probability … of a climate catastrophe. We derive the theoretical predictions of the effects on contributions arising from 'behavioral … parameters' such as loss aversion and present-bias; 'structural factors' such as variation in the timing of uncertainty; the …