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This paper proposes an evolutionary betting mechanism that refers to scientists' academic reputation. The mechanism provides incentives for theoretical and empirical researchers to work on joint projects, thereby producing more general findings and stylized facts that can be used in giving...
Persistent link: https://www.econbiz.de/10005126068
introduce fundamental concepts such as entropy, joint production, ignorance, evolution, absolute scarcity, responsibility and …, environmental and political evolution are outlined in Section 4. In Section 5, we apply the concept of responsibility to address …
Persistent link: https://www.econbiz.de/10012141445
introduce fundamental concepts such as entropy, joint production, ignorance, evolution, absolute scarcity, responsibility and …, environmental and political evolution are outlined in Section 4. In Section 5, we apply the concept of responsibility to address …
Persistent link: https://www.econbiz.de/10011975547
Prisoner's dilemma played by finite automata is reviewed again using a slightly modified measure of complexity. At a first step, an equilibrium with a large number of possible outcomes is shown to hold. At a second stage, we consider a game of repeated interaction, and show that on (limit)...
Persistent link: https://www.econbiz.de/10005081028
Persistent link: https://www.econbiz.de/10014024361
Equilibrium and Evolution (Manchester University Press, 1991), in addition to numerous papers in and edited volumes. Brian Loasby …
Persistent link: https://www.econbiz.de/10005169651
evolution equilibrium. It is based on arguments from the gradual vs. bang-bang tax reform controversy and from the debate on …
Persistent link: https://www.econbiz.de/10010305437
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...
Persistent link: https://www.econbiz.de/10011421455
The paper looks at the evolution of industry in Uganda examining drivers and constraints since the pre-colonial period … policy to industrialization has not been adequate to propel industrial development in Uganda. State withdrawal from direct … involvement in industrial development was prematurely done and should be revisited …
Persistent link: https://www.econbiz.de/10010343209
The nature of learning processes as well as evolutionary considerations suggest that aesthetic judgement is of central importance in the formation of custom. Learning and extrapolation rely on evaluations of non-instrumental features like simplicity, analogy, straightforwardness, and clarity....
Persistent link: https://www.econbiz.de/10012695510