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...

We study an imitation game of strategic complementarities between the percentage of high-skilled workers and innovative firms, namely, human capital and R&D, respectively. We show that this model has two pure Nash equilibria, one of them with high investment in R&D and skilled workers while the...

We propose a straightforward extension of our previously proposed log-periodic power-law model of the “anti-bubble” regime of the USA stock market since the summer of 2000, in terms of the renormalization group framework to model critical points. Using a previous work by Gluzman and Sornette...