In the evolutionary setting for a financial market developed by Blume and Easley (1992) the author considers an infinitely repeated version of a model B la Grossman and Stiglitz (1980) with asymmetrically informed traders. Informed traders observe the realisation of a payoff relevant signal...

The aim of this paper is to test the performance of the standard version of CAPM in an evolutionary framework. We imagine a heterogeneous population of long-lived agents who invest their wealth according to differential porfolio rules and ask what is the fate of those who happen to behave as...

This paper o¤ers a bridge between the theoretical literature on endogenous network formation and the empirical work on the impact of social networks on economic performance. We provide a theoretical framework of endogenous network formation that yields testable predictions for the network...