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The purpose of this article is to analyse the way economists interested in social and economic evolution cite, mention or refer to Darwin. We focus on the attitude of economists towards Darwin's theory of social evolution - an issue he considered as central to his theory. We show that economists...
Persistent link: https://www.econbiz.de/10010266698
neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10010398499
neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10011421455
In this paper we present an overview of methods and components of formal economic models employing evolutionary approaches. This compromises two levels: (1) techniques of evolutionary modelling, including multi-agent modelling, evolutionary algorithms and evolutionary game theory; (2) building...
Persistent link: https://www.econbiz.de/10010277301
This paper incorporates aspects of humans' evolved cognition into a formal model of cultural evolution and scrutinizes their interactions with population-level processes. It is shown how the biased transmission of different kinds of behavior via cultural learning processes influences agents'...
Persistent link: https://www.econbiz.de/10010266741
It has been suggested that, by generalizing Darwinian principles, a common foundation can be derived for all scientific disciplines dealing with evolutionary processes, especially for evolutionary economics. In this paper we show, however, that the principles of such a Generalized Darwinism are...
Persistent link: https://www.econbiz.de/10010281846
economic decision making in a way similar to the approach taken by evolutionary psychology, i.e. by focusing on decision …
Persistent link: https://www.econbiz.de/10010286736
This paper examines the learning dynamics of boundedly rational agents, who are asked to voluntarily contribute to a discrete public good. In an incomplete information setting, we discuss contribution games and subscription games, the latter including a money-back guarantee in case of provision...
Persistent link: https://www.econbiz.de/10010317618
In our model, individual consumers follow simple behavioral decision rules based on imitation and habit as suggested in …
Persistent link: https://www.econbiz.de/10010264927
In this paper I define an evolutionary stability criterion for learning rules. Using Monte Carlo simulations, I then apply this criterion to a class of learning rules that can be represented by Camerer and Ho's (1999) model of learning. This class contains perturbed versions of reinforcement and...
Persistent link: https://www.econbiz.de/10010281359