This note constructs a neoclassical growth model of endogenous intergenerational altruism along the lines of Mulligan (1997). It is shown that individuals accumulate altruism in the long run whenever the rate at which concern is accumulated is sufficiently high, and that the endogenous formation...

This paper analyses the evolution of trading relationships in a market in which trades take place bilaterally. Buyers reinforce their probability of visiting sellers as a function of the profitability of their past experience. Using the "mean field" approach it is shown that two distant types of...

Why do innovations need delay to diffuse, or why do they fail? This paper provides a possbile explanation. Considering a population of potential adopters of a technology, we set up a model composed of interacting agents. Interaction is conceived as influence effects and the network of...

A simple model of the Arrow-Debreu type is used to analyze the short-run performance of an employee-controlled wage-maximizing economy. It is found that an increase in demand, caused by a shift in consumers' preferences, leads to a fall in a good's equilibrium price, which indicates that...