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According to the advocates of a "Generalized Darwinism" (GD), the three core Darwinian principles of variation, selection and retention (or inheritance) can be used as a general framework for the development of theories explaining evolutionary processes in the socioƯeconomic domain. Even though...
Persistent link: https://www.econbiz.de/10003889718
There is a growing consensus in Ecological Economics that consumer preferences are neither fixed nor given, but rather endogenously determined by socio-economic and institutional factors. Hence, policy may promote "green" preferences directly. Yet any intervention in processes of preference...
Persistent link: https://www.econbiz.de/10009632322
Schumpeter's and Hayek's view of market coordination as being not about efficiency, but about endogenous change and never-ending discovery has been increasingly recognized even by the mainstream of economics. Underlying this view is the notion of creative learning agents who bring about novelty....
Persistent link: https://www.econbiz.de/10003875871
Behavioral (e.g. consumption) patterns of boundedly rational agents can lead these agents into learning dynamics that appear to be "wasteful" in terms of well-being or welfare. Within settings displaying preference endogeneity, it is however still unclear how to conceptualize well-being. This...
Persistent link: https://www.econbiz.de/10008809600
This paper delivers a step toward a naturalistic foundation of the social contract. While mainstream social contract theory is based on an original position model that is defined in an aprioristic way, we endogenize its key elements, i.e., develop them out of the individuals’ moral common...
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