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We claim that economic agents driven by imitative behavior may impact the industrial specialization of national economies. We use a simple two-country model, where workers and firms decide to be skilled (or unskilled) and innovative (or non-innovative). We show that comparative advantages and...
Persistent link: https://www.econbiz.de/10011112758
This paper analyzes the cultural evolution of firms and workers. Following an imitation rule, each firm and worker decides whether to be innovative (or not) and skilled (or unskilled). We apply evolutionary game theory to find the system of replicator dynamics, and characterize the low-level and...
Persistent link: https://www.econbiz.de/10008691738
- Breaking the Circular Flow: A Dynamic Programming Approach to Schumpeter -- A Review in Campaigns: Going Positive and Negative -- Comments on Lattice Structures and Deferred Acceptance Algorithm -- Externalities, Optimal Subsidy and Growth -- The Fractal Nature of Bitcoin: Evidence From...
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In this article, the authors undertake a scientific assessment of economic integration in North America from a NAFTA perspective. An analysis around the creation of NAFTA, the cooperation that exists between the three North American economies, as well as the challenges that they face with...
Persistent link: https://www.econbiz.de/10008466877
In this paper we show the strong relation existing between efficiency and social welfare. We introduce the concept of Negishi path, a differentiable manifold that shows the relation between distributions of social weights and efficient allocations. We show that it is possible to assign to each...
Persistent link: https://www.econbiz.de/10009143759
This paper studies the evolutionary dynamics of migration. We argue that, under bounded rationality, the strategic foundations of the migrant behavior are based in the imitation of peers. We show that any migratory flow can be modeled from a dynamical system, whose parameters reflect the social...
Persistent link: https://www.econbiz.de/10010751621