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approaches initiated in other fields - such as non-linear dynamics, statistical physics, network theory, biology, computer … Theory and Econometrics - reflect from various perspectives this recent evolution. They are the outgrow from a selection of …
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Economic theory defines and constrains admissible functional form and functional structure throughout the economy … are derived directly from economic theory. Theoretically implied constraints on the properties of equilibrium stochastic …, as well as to aggregation over economic agents and goods in economic theory. In addition, his work in those areas has …
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The endowment effect describes the fact that people demand much more to give up an object than they are willing to spend to acquire it. The existence of this effect has been documented in numerous experiments. We attempt to explain this effect by showing that evolution favors individuals whose...
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The two major methods of explaining economic institutions, namely by strategic choices or by (indirect) evolution, are compared for the case of a homogenous quadratic duopoly market. Sellers either can provide incentives for their agents to care for sales (amounts) or evolve as sellers who care...
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