stable equilibrium is one in which the entire population will consist of altruists. …

evolution equilibrium. It is based on arguments from the gradual vs. bang-bang tax reform controversy and from the debate on … trade-off. Basing on a general equilibrium model by T. Kehoe including production and taxes we provide a formal model of an … optimal macroeconomic policy design. Existence of equilibrium is established extending an analytical result which in a …

evolution equilibrium. It is based on arguments from the gradual vs. bang-bang tax reform controversy and from the debate on … trade-off. Basing on a general equilibrium model by T. Kehoe including production and taxes we provide a formal model of an … optimal macroeconomic policy design. Existence of equilibrium is established extending an analytical result which in a …

evolution equilibrium. It is based on arguments from the gradual vs. bang-bang tax reform controversy and from the debate on … trade-off. Basing on a general equilibrium model by T. Kehoe including production and taxes we provide a formal model of an … optimal macroeconomic policy design. Existence of equilibrium is established extending an analytical result which in a …

Evolutionary arguments are often used to justify the fundamental behavioral postulates of competive equilibrium … these claims in an evolutionary general equilibrium model. If the economic environment were held constant, profitable firms … would grow and unprofitable firms would shrink. In the general equilibrium model, prices change as factor demands and output …

learning or evolution processes followed by boundedly rational players, however observing the past plays. A Nash equilibrium …Static or dynamic equilibrium notions used in game theory may be justified along two perspectives. From an epistemic … game structure and of their rationality. If a rationalizable equilibrium or a correlated equilibrium can easily be …

This paper is the result of a pilot study conducted to track, explore and analyse various aspects of the evolution of … Singapore business within a holistic framework using case study methodology. Following the Introduction in Section 1, Section 2 … provides the backdrop against which the evolution of business organisations is viewed, i.e. a brief overview of the evolution …