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Economic agents are not always rational or farsighted and can make decisions according to simple behavioral rules that vary according to situation and can be studied using the tools of evolutionary game theory. Furthermore, such behavioral rules are themselves subject to evolutionary forces....
Persistent link: https://www.econbiz.de/10011852747
When a strategic situation arises repeatedly, the possibility arises that equilibrium predictions can be justified by a … dynamic adjustment process. We examine myopic adjustment dynamics, a class that includes replicator dynamics from evolutionary … game theory, simple models of imitation, models of experimentation and adjustment, and some simple learning dynamics. We …
Persistent link: https://www.econbiz.de/10012235814
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Economic agents are not always rational or farsighted and can make decisions according to simple behavioral rules that vary according to situation and can be studied using the tools of evolutionary game theory. Furthermore, such behavioral rules are themselves subject to evolutionary forces....
Persistent link: https://www.econbiz.de/10011849550
This paper analyzes the evolutions of the Romania economy at the macroeconomic level, analysis based, on most part, by the study of the Gross Domestic Product. Following the study of available statistical data, valuable conclusions were drawn regarding the situation of our national economy and...
Persistent link: https://www.econbiz.de/10010726633
When a strategic situation arises repeatedly, the possibility arises that equilibrium predictions can be justified by a … dynamic adjustment process. We examine myopic adjustment dynamics, a class that includes replicator dynamics from evolutionary … game theory, simple models of imitation, models of experimentation and adjustment, and some simple learning dynamics. We …
Persistent link: https://www.econbiz.de/10005766802
The issue addressed in this paper concerns the emergence and dynamics of a regional cluster in the music industry … impulses through immigrants, contributed to the dynamics and re-vitalization of the Stockholm music cluster. …
Persistent link: https://www.econbiz.de/10005190553