This article develops an evolutionary model of industry dynamics in order to carry out a richer theoretical analysis of the consequences of a stronger patent system. The first results obtained in our article are rather consistent with the anti-patent arguments and they do not favour the case for...

The paper studies off-line computation of the Stackelberg solution in a repeated game framework, utilizing the Genetic Algorithm. Simulations are conducted with a numerical linear quadratic example and a Fish War game example. Furthermore, it is shown that an evolutionary mutation probability is...

Convergence to Nash equilibrium in Cournot oligopoly is a problem that recurrently arises as a subject of study in economics. The development of evolutionary game theory has provided an equilibrium concept more directly connected with adjustment dynamics and the evolutionary stability of the...

We are concerned by the dynamic demographic and economic consequences of epidemics, and to this end, we consider a general overlapping generations model which allows for several epidemic configurations. People live for three periods, successively as children, junior adults and senior adults. A...

For pension-savers, a low payoff is a financial disaster. Such investors will most likely prefer left-skewed payoff distributions over right-skewed payoff distributions. We explore how such distributions can be delivered. Cautious-relaxed utility measures are cautious in ensuring that payoffs...