naïve learning rules. In fact, more sophisticated, e.g. recursive least squares (RLS) expectations produce less accurate … individual forecasts and also considerably worsen the performance of the economy. Finally, we experiment with agents that adjust … suggest that fast and frugal robust heuristics are not a second-best option: rather they are "rational" in macroeconomic …

Altruism can be understood in a behavioral or in a psychological sense. Motivationally, altruism is the desire to … enhance the welfare of others at a net welfare loss to oneself. Behaviorally, altruism is any act that could have resulted … on seeing what other agents are doing, corresponding to quasi-moral norms of fairness or reciprocity, and acts whose …

pillar is internalised norms of cooperation, sustained by emotions such as guilt and shame. The second pillar is the … inclinations. The third pillar are sanctions meted out to anyone who does not cooperate; ideally punishment can work as a mere … findings, in particular with regard to punishment behaviour. The chapter concludes with remarks on future research. …

pillar is internalized norms of cooperation, sustained by emotions such as guilt and shame. The second pillar is the … inclinations. The third pillar are sanctions meted out to anyone who does not cooperate; ideally punishment can work as a mere … findings, in particular with regard to punishment behaviour. The chapter concludes with remarks on future research. …