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Evolutionary economics and household behavior
Horioka, Charles - 2014
neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10010390070
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Evolutionary economics and household behavior
Horioka, Charles - 2014
neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10010390395
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Rationality of Expectations : Comparison of Neoclassical and Evolutionary Approaches
Tomczyk, Emilia - 2006
assumption: rationality of economic agents. It discusses role of rationality assumption in neoclassical and evolutionary theories …; importance of expectations; and perspectives for analyzing them within the framework of evolutionary game theory - namely …
Persistent link: https://www.econbiz.de/10012733772
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Why blu-ray vs. HD-DVD is not VHS vs. Betamax : the co-evolution of standard-setting consortia
Christ, Julian P.; Slowak, André P. - 2009
Extensive research has been conducted on the economics of standards in the last three decades. To date, standard-setting studies emphasize a superior role of demand-side-driven technology diffusion; these contributions assume the evolution of a user-driven momentum and network externalities. We...
Persistent link: https://www.econbiz.de/10010485388
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Why Blu-ray vs. HD-DVD is not VHS vs. Betamax : the co-evolution of standard-setting consortia
Christ, Julian P.; Slowak, André P. - 2009
Extensive research has been conducted on the economics of standards in the last three decades. To date, standard-setting studies emphasize a superior role of demand-side-driven technology diffusion; these contributions assume the evolution of a user-driven momentum and network externalities. We...
Persistent link: https://www.econbiz.de/10003958872
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Eductive Stability May not Imply Evolutionary Stability in the Presence of Information Costs
Naimzada, Ahmad Kabir - 2019
Starting from a Muthian cobweb model, we extend the profit-based evolutionary setting in Hommes and Wagener (2010) populated by pessimistic, optimistic and unbiased fundamentalists, by assuming that agents face heterogeneous information costs, inversely proportional to the entity of their bias....
Persistent link: https://www.econbiz.de/10012871322
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Why Blu-Ray vs. HD-DVD is not VHS vs. Betamax : The Co-Evolution of Standard-Setting Consortia
Christ, Julian Phillip; Slowak, André - 2012
Extensive research has been conducted on the economics of standards in the last three decades. To date, standard-setting studies emphasize a superior role of demand-side-driven technology diffusion; these contributions assume the evolution of a user-driven momentum and network externalities. We...
Persistent link: https://www.econbiz.de/10014194160
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Why Blu-Ray vs. HD-DVD is Not VHS vs. Betamax : The Co-Evolution of Standard-Setting Consortia
Christ, Julian Phillip - 2012
Extensive research has been conducted on the economics of standards in the last three decades. To date, standard-setting studies emphasize a superior role of demand-side-driven technology diffusion; these contributions assume the evolution of a user-driven momentum and network externalities. We...
Persistent link: https://www.econbiz.de/10013116016
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The rationality of expectations formation
DAVILA, Julio - Center for Operations Research and Econometrics (CORE), … - 2014
this result, it is established too that adding common knowledge of the rationality of the formation of expectations —on top … of that of rationality of choices and market clearing— does not suffice either to guarantee rational expectations …Rational expectations do not require beliefs to be consistent with history and with what agents can conclude from it …
Persistent link: https://www.econbiz.de/10011246314
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Rational thinking under costly information—Macroeconomic implications
Gomes, Orlando - In: Economics Letters 115 (2012) 3, pp. 427-430
The notion of optimized rational behavior in the formation of expectations is used in this note to study the dynamics …, the selection of an optimal degree of rationality may lead to the generation of long-term endogenous fluctuations. …
Persistent link: https://www.econbiz.de/10011041783