In this paper, we develop a simple model of social dynamics governing the evolution of strategic self-protection choices of boundedly rational potential victims facing the threat of prospective offenders in a large population with random matching. We prove that individual (and socially...

We develop an evolutionary model of growth in which agents choose how to allocate their time between private and social activities. We argue that a shift from social to private activities may foster market-based growth, but also generate social poverty. Within a formal framework that merges a...