Der vorliegende Band enthält zehn Beiträge aus der Arbeit des Evolutorischen Ausschusses, die sich aus unterschiedlichen Perspektiven mit dem Kerngegenstand der Evolutorischen Ökonomik, dem wirtschaftlichen Wandel, auseinandersetzen. Damit reflektiert der Band die Komplexität des...

Models which are built on the assumption of rational expectations can easily outline the conditions under which bubbles may exist but they remain silent on the factors that cause the price to deviate from the fundamental value. In this paper it is argued that dynamic extensions of the noise...

Summary Models which are built on the assumption of rational expectations can easily outline the conditions under which bubbles may exist but they remain silent on the factors that cause the price to deviate from the fundamental value. In this paper it is argued that dynamic extensions of the...

It is well known that bubbles possess the potential to increase economic welfare due to a reduction of capital accumulation in deterministic overlapping generations economies that are in a dynamically inefficient state. However, actual economies are stochastic, where the concept of dynamic...