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Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits
Galor, Oded; Michalopoulos, Stelios - C.E.P.R. Discussion Papers - 2011
This research suggests that the evolution of entrepreneurial spirit played a significant role in the process of … economic development and the dynamics of inequality within and across societies. The study argues that entrepreneurial spirit … evolved non-monotonically in the course of human history. In early stages of development, risk-tolerant, growth promoting …
Persistent link: https://www.econbiz.de/10009002382
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Perceiving Prospects Properly
Steiner, Jakub; Stewart, Colin - C.E.P.R. Discussion Papers - 2014
When an agent chooses between prospects, noise in information processing generates an effect akin to the winner’s curse. Statistically unbiased perception systematically overvalues the chosen action because it fails to account for the possibility that noise is responsible for making the...
Persistent link: https://www.econbiz.de/10011083577
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The Biocultural Origins of Human Capital Formation
Galor, Oded; Klemp, Marc P B - C.E.P.R. Discussion Papers - 2014
and the evolution of societies from an epoch of stagnation to sustained economic growth. …
Persistent link: https://www.econbiz.de/10011083757
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The Agricultural Origins of Time Preference
Galor, Oded; Özak, Ömer - C.E.P.R. Discussion Papers - 2014
This research explores the origins of the distribution of time preference across regions. It advances the hypothesis, and establishes empirically, that geographical variations in natural land productivity and their impact on the return to agricultural investment have had a persistent effect on...
Persistent link: https://www.econbiz.de/10011083828
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How Darwinian should an economy be?
Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 2014
This paper studies aggregate dynamics in a cobweb model where learning takes place through a selection mecanism, by which more successful firms are replicated at a higher rate. The structure of the model allows to characterize analytically the aggregate dynamics, and to compute the effect on...
Persistent link: https://www.econbiz.de/10011093687
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Culture: Persistence and Evolution
Giavazzi, Francesco; Petkov, Ivan; Schiantarelli, Fabio - C.E.P.R. Discussion Papers - 2014
This paper presents evidence on the speed of evolution (or lack thereof) of a wide range of values and beliefs of …
Persistent link: https://www.econbiz.de/10011083563
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The Evolution of Entrepreneurial Spirit and the Process of Development
Galor, Oded; Michalopoulos, Stelios - C.E.P.R. Discussion Papers - 2006
economic development and the evolution of inequality within and across societies. The study argues that entrepreneurial spirit …This research suggests that the evolution of entrepreneurial spirit played a significant role in the process of … evolved non-monotonically in the course of human history. In early stages of development, the rise in income generated an …
Persistent link: https://www.econbiz.de/10005136732
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From Stagnation to Growth: Unified Growth Theory
Galor, Oded - C.E.P.R. Discussion Papers - 2004
This Paper examines the process of development from an epoch of Malthusian stagnation to a state of sustained economic … growth. The analysis focuses on recently advanced unified growth theories that capture the intricate evolution of income per … has been widely viewed as one of the most significant challenges facing researchers in the field of growth and development …
Persistent link: https://www.econbiz.de/10005497992
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Natural Selection and the Evolution of Life Expectancy
Galor, Oded; Moav, Omer - C.E.P.R. Discussion Papers - 2005
development, shedding new light on the sources of the remarkable rise in life expectancy since the Agricultural Revolution. The …
Persistent link: https://www.econbiz.de/10005498168
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Keeping Up With the Joneses: Competition and the Evolution of Collusion in an Oligopolistic Economy
Dixon, Huw David - C.E.P.R. Discussion Papers - 1998
An economy consists of many duopolistic markets. Firms must earn normal profits in the long run if they are to survive. Normal profits are interpreted as the long-run limit of average profits in the whole economy. We adopt the aspiration based model of firm behaviour, and link it to the economy...
Persistent link: https://www.econbiz.de/10005504330