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Thompson Sampling: Endogenously Random Behavior in Games and Markets

Mauersberger, Felix - 2019

Economists tend to assume that agents maximize their expected utility. However, many different experiments have questioned expected utility maximization by showing that human behavior can be characterized as random. This paper proposes Thompson Sampling as a theory of human behavior across very...

Persistent link: https://www.econbiz.de/10012099162

Inflation and Deflationary Biases in Inflation Expectations

Lamla, Michael; Pfajfar, Damjan; Rendell, Lea - 2019

inflation and deflationary biases in inflation expectations. In a model with an occasionally binding zero-lower-bound constraint … of this model using unique individual-level inflation expectations data across nine countries that allow for a direct … identification of these biases. Both inflation and deflationary biases are present (and sizable) in inflation expectations of these …

Persistent link: https://www.econbiz.de/10012099206

Implementing the agroecological transition: weak or strong modernization of agriculture? Focus on the mycorrhiza supply chain in France

Angeon, Valérie; Bilon, Rebecca; Chave, Marie - 2014

Industrial agriculture and its technological package (intensive farming, mechanization, use of chemicals) are no longer in position to ensure food security (Altieri et al., 2012). To overcome the strongly negative externalities produced by this model, agroecological transition may be considered...

Persistent link: https://www.econbiz.de/10011400092

Market failure vs. system failure as a rationale for EU regional policy? A critique from an evolutionary economic perspective

Schmidt, Peter - 2015

This paper reconsiders the economic explanation of EU regional policy from an evolution- ary perspective. It contrasts the neoclassical equilibrium notions of market and government failure with the prevalent evolutionary neo-Schumpeterian and Austrian-Hayekian percep- tions. Based on this...

Persistent link: https://www.econbiz.de/10011400542

River Sharing and Water Trade

Weikard, Hans-Peter; Ansink, Erik; Gengenbach, Michael - 2013

We analyse river sharing games in which a set of agents located along a river shares the available water. Using coalition theory, we find that the potential benefits of water trade may not be su cient to make all agents in the river cooperate and acknowledge property rights as a prerequisite for...

Persistent link: https://www.econbiz.de/10010329447

Institutions, Civil Society, Trust and Quality of Life: A Social Capital- And Social Identity-Based Approach. Evidence from the Russian Federation

Sechi, Guido; Tatarko, Alexander; Skilters, Jurgis - 2014

Many scholars, since the early 2000s, advocate for the integration of institutionalist and communitarian views of social capital generation in order to explain civil society dynamics, in particular in countries ? such as former communist states - characterized by transitional processes, with a...

Persistent link: https://www.econbiz.de/10011400025

Institutional change and economic evolution in regions

Grillitsch, Markus - 2014

The overall objective of this paper is to contribute conceptually to the questions why and how regions transform and it joins the debate on economic evolution and institutional change. The paper addresses the challenge of how to conceptualise the interdependencies of institutions of different...

Persistent link: https://www.econbiz.de/10011400186

EU regional policy: Its theoretical foundations and their policy conclusions revisited

Schmidt, Peter - 2014

This paper reconsiders the theoretical foundations of EU regional policy in economics. It begins with a discussion of the line of thought of its prevalent explanation in equilibrium economics which is focusing on market failures as its key underpinning and which is the major toolkit of...

Persistent link: https://www.econbiz.de/10011400205

The institutional underpinnings of the prospective euro adoption in Poland

Rapacki, Ryszard - 2015

This paper aims to assess both the explicit and implicit convergence criteria for Poland's possible membership in the Economic and Monetary Union, with special emphasis on institutional underpinnings of the country's prospects of adopting the euro. While the former set of criteria (embedded in...

Persistent link: https://www.econbiz.de/10011448800

Governmental learning as a determinant of economic growth

Gruševaja, Marina - 2011

. The paper shows that under the conditions of bounded rationality and radical uncertainty economic growth is determined …

Persistent link: https://www.econbiz.de/10010306923