Many commentators have pointed towards a downturn in the enrolment of students on economics degrees. Part of the explanation for this phenomenon is probably because business studies degrees meet students' requirements for practical understanding more closely. We suggest here that one of the...

Supply and demand largely determine the price of goods on human markets. It has been proposed that in animals, similar forces influence the payoff distribution between trading partners in Sexual selection, intraspecific cooperation and interspecific mutualism. Here we present the first...

Using Simon's concept of nested hierarchies, this paper advances a new synthesis for understanding how and why the discontinuous change processes of punctuated equilibrium may occur in socio-economic settings. A. key concept is the nested, multilevel organization of 'deep structure', the order...

We show that a set of outcomes outside the convex hull of Nash equilibria can be asymptotically stable with respect to convex monotonic evolutionary dynamics. Boundedly rational agents receive signals and condition the choice of strategies on the signals. A set of conditional strategies is...

The emergence of novelty is a driving agent for economic change. New technologies, new products and services, new institutional arrangements, to mention a few examples, are the backbone of development and growth. Important though it is, the emergence of novelty is not well understood. What seems...