How does generalized social trust — a Trustor's willingness to allow anonymous Trustees to make decisions affecting the Trustor's own welfare without an enforceable contract or guarantee, despite the Trustees' incentives to exploit or defraud — come to predominate in a community?...

We study the transition towards effective payoffs in the prisoner’s dilemma game on scale-free networks by introducing a normalization parameter guiding the system from accumulated payoffs to payoffs normalized with the connectivity of each agent. We show that during this transition the...

A two nation, two sector oligopoly trade model is presented in which one sector creates a negative production externality. Firms switch sectors in response to profit differentials until these are exhausted in the long run evolutionary equilibrium (EE). Under autarky, the optimal EE pollution tax...

We introduce a new kind of projection dynamics by employing a ray-projection both locally and globally. By global (local) we mean a projection of a vector (close to the unit simplex) unto the unit simplex along a ray through the origin. Using a correspondence between local and global...