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Evolutionary Dynamics in Public Good Games

Clemens, Christiane; Riechmann, Thomas - In: Computational Economics 28 (2006) 4, pp. 399-420

continuous strategy spaces. We analyze the learning process of purely and impurely altruistic agents and find in both cases the … to experiment are key factors of the learning process. Copyright Springer Science+Business Media, Inc. 2006 …

Persistent link: https://www.econbiz.de/10005701602

Stochastic Evolution of Rules for Playing Finite Normal Form Games

Germano, Fabrizio - In: Theory and Decision 62 (2007) 4, pp. 311-333

The evolution of boundedly rational rules for playing normal form games is studied within stationary environments of stochastically changing games. Rules are viewed as algorithms prescribing strategies for the different normal form games that arise. It is shown that many of the â€œfolk...

Persistent link: https://www.econbiz.de/10005711000

Bargaining and Dilemma Games: From Laboratory Data Towards Theoretical Synthesis

Bolton, Gary - In: Experimental Economics 1 (1998) 3, pp. 257-281

Bargaining and dilemma games have developed in experimental economics as fairly separate literatures. More than a few analysts are now persuaded that the patterns of behavior in these games are closely related, and considerable effort is being put into a search for models that bridge the gap...

Persistent link: https://www.econbiz.de/10005711679

Is bounded rationality a capacity, enabling learning?

Novarese, Marco - Volkswirtschaftliche Fakultät, … - 2009

Bateson. Learning requires to recognize a series of situations as identical and then to observe the effect of given variables … hypothesis to be continuously tested. This vision of bounds and learning has many implications for the debate on rationality and …

Persistent link: https://www.econbiz.de/10005616822

Cycling in a stochastic learning algorithm for normal form games

Posch, Martin - In: Journal of Evolutionary Economics 7 (1997) 2, pp. 193-207

In this paper we study a stochastic learning model for 2, 2 normal form games that are played repeatedly. The main … receives. We prove that the learning algorithm, which is modeled by an urn scheme proposed by Arthur (1993), leads with … equilibria, the learning process converges a.s. to the set of Nash equilibria. …

Persistent link: https://www.econbiz.de/10005622434

An evolutionary model of the size distribution of firms

Hashemi, Fariba - In: Journal of Evolutionary Economics 10 (2000) 5, pp. 507-521

An analytical study of the evolution of the distribution of firm size in an industry is presented. A drift-diffusion model is proposed to express the time-evolution of density of firm size within the industry. The model blends the conventional, more or less static, determinants with the kinds of...

Persistent link: https://www.econbiz.de/10005622535

"Adaptive Expectations, Underparameterization and the Lucas Critique

Evans, George W.; Ramey, Garey - Department of Economics, University of Oregon - 2001

A striking implication of the replacement of adaptive expectations by Rational Expectations was the "Lucas Critique," which showed that expectation parameters, and endogenous variable dynamics, depend on policy parameters. We consider this issue from the vantage point of a bounded rationality,...

Persistent link: https://www.econbiz.de/10005635099

?Just Forget It?: Memory Distortion as Bounded Rationality

Frey, Bruno S. - Center for Research in Economics, Management and the … - 2004

Distortions in memory impose important bounds on rationality but have been largely disregarded in economics. While it is possible to learn, it is more difficult, and sometimes impossible, to unlearn. This retention effect lowers individual utility directly or via reduced productivity, and adds...

Persistent link: https://www.econbiz.de/10005536958

Dynamic Voluntary Contribution to a Public Good:Learning to be a Free Rider

Clemens, Christiane; Riechmann, Thomas - Society for Computational Economics - SCE - 2001

corresponds to findings from experiments on voluntary contribution to a public good. Crucial determinants of the learning process …

Persistent link: https://www.econbiz.de/10005537778

The Neutrality of Money Revisited with a Bottom-Up Approach: Decentralisation, Limited Information and Bounded Rationality

Galand, Gabriel - In: Computational Economics 33 (2009) 4, pp. 337-360

Persistent link: https://www.econbiz.de/10005542262