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We claim that economic agents driven by imitative behavior may impact the industrial specialization of national economies. We use a simple two-country model, where workers and firms decide to be skilled (or unskilled) and innovative (or non-innovative). We show that comparative advantages and...
Persistent link: https://www.econbiz.de/10011112758
In this paper we show the strong relation existing between efficiency and social welfare. We introduce the concept of Negishi path, a differentiable manifold that shows the relation between distributions of social weights and efficient allocations. We show that it is possible to assign to each...
Persistent link: https://www.econbiz.de/10009143759
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...
Persistent link: https://www.econbiz.de/10008691738
In this article, the authors undertake a scientific assessment of economic integration in North America from a NAFTA perspective. An analysis around the creation of NAFTA, the cooperation that exists between the three North American economies, as well as the challenges that they face with...
Persistent link: https://www.econbiz.de/10008466877
In the framework of general equilibrium theory, this paper considers the existing relationship between the concepts of egalitarianism, efficiency and fairness, in a pure exchange economy with infinitely many goods. We consider the possibility of achieving an efficient egalitarian allocation in a...
Persistent link: https://www.econbiz.de/10010764319
In this paper, from the excess utility function we obtain a binary relation in the social weights space and then, for an infinite dimensional economy, we prove the existence of equilibrium in our approach we don't suppose the existence of a demand function. Finally, we obtain a condition for the...
Persistent link: https://www.econbiz.de/10005487142
A stumbling block in the modeling of competitive markets with commodity and price spaces of infinite dimensions, arises from having positive cones with an empty interior. This issue precludes the use of tools of differential analysis, ranging from the definition of a derivative, to the use of...
Persistent link: https://www.econbiz.de/10011118017
Persistent link: https://www.econbiz.de/10005649837
In this work, we attempt to characterize the main theoretical difficulties to prove the existence of competitive equilibrium in infinite dimensional models. We shall show cases in which it is not possible to prove the existence of equilibrium and some others in which, however the existence of...
Persistent link: https://www.econbiz.de/10005646839
In this paper we attempt to show that, however being little from a topological point of view, the set of singular economies plays a considerable role in the development of the economies.
Persistent link: https://www.econbiz.de/10005646842