Evolutionary Games And Poverty Traps PDF Download
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Author | : Edgar J. Sánchez Carrera |
Publisher | : Cambridge Scholars Publishing |
Total Pages | : 144 |
Release | : 2015-11-25 |
Genre | : Business & Economics |
ISBN | : 1443886343 |
Download Evolutionary Games and Poverty Traps Book in PDF, ePub and Kindle
This book explores how persistent states of underdevelopment can arise in strategic environments in which players are imitative rather than fully rational. Standard growth theory teaches that poverty traps are stable, low-level balanced growth paths to which economies gravitate due to adverse initial conditions or poor equilibrium selection. In other words, societies fail to take off into sustained growth because they started out as poor, with, for example, low longevity or poor human capital, or because they cannot invent institutions that successfully coordinate their investments. Evolutionary Games and Poverty Traps explains this pernicious form of coordination failure as a game between economic agents, such as, for example, firms investing in research and development and workers investing in human capital. Rates of return on research and development depend on average human capital, and rates of return on human capital depend on aggregate research and development spending. The outcome is a self-confirming equilibrium in evolutionary stable strategies in which unsuccessful players imitate successful ones. This equilibrium is particularly interesting in that in poor economies with a large fraction of low-human-capital workers or low research and development firms, imitative strategies do not support a take-off into sustained growth. To achieve such a take-off, society should subsidize the cost of education or research and development until the economy builds a critical mass of human capital or research and development.
Author | : Saul Mendoza-Palacios |
Publisher | : Cambridge University Press |
Total Pages | : 120 |
Release | : 2024-06-06 |
Genre | : Business & Economics |
ISBN | : 1009472291 |
Download Evolutionary Games and the Replicator Dynamics Book in PDF, ePub and Kindle
This Element introduces the replicator dynamics for symmetric and asymmetric games where the strategy sets are metric spaces. Under this hypothesis the replicator dynamics evolves in a Banach space of finite signed measures. The authors provide a general framework to study the stability of the replicator dynamics for evolutionary games in this Banach space. This allows them to establish a relation between Nash equilibria and the stability of the replicator for normal a form games applicable to oligopoly models, theory of international trade, public good models, the tragedy of commons, and War of attrition game among others. They also provide conditions to approximate the replicator dynamics on a space of measures by means of a finite-dimensional dynamical system and a sequence of measure-valued Markov processes.
Author | : Ferenc Szidarovszky |
Publisher | : Springer Nature |
Total Pages | : 303 |
Release | : 2020-04-11 |
Genre | : Mathematics |
ISBN | : 9811536236 |
Download Games and Dynamics in Economics Book in PDF, ePub and Kindle
This book focuses on the latest advances in nonlinear dynamic modeling in economics and finance, mainly—but not solely—based on the description of strategic interaction by using concepts and methods from dynamic and evolutionary game theory. The respective chapters cover a range of theoretical issues and examples concerning how the qualitative theory of dynamical systems is used to analyze the local and global bifurcations that characterize complex behaviors observed in social systems where heterogeneous and boundedly rational economic agents interact. Nonlinear dynamical systems, represented by difference and differential and functional equations, are extensively used to simulate the behavior of time-evolving economic systems, also in the presence of time lags, discontinuities, and hysteresis phenomena. In addition, some theoretical issues and particular applications are discussed, as well. The contributions gathered here offer an up-to-date review of the latest research in this rapidly developing research area.
Author | : Mauricio Matos Peixoto |
Publisher | : Springer Science & Business Media |
Total Pages | : 812 |
Release | : 2011-03-29 |
Genre | : Mathematics |
ISBN | : 3642114563 |
Download Dynamics, Games and Science I Book in PDF, ePub and Kindle
Dynamics, Games and Science I and II are a selection of surveys and research articles written by leading researchers in mathematics. The majority of the contributions are on dynamical systems and game theory, focusing either on fundamental and theoretical developments or on applications to modeling in biology, ecomonics, engineering, finances and psychology. The papers are based on talks given at the International Conference DYNA 2008, held in honor of Mauricio Peixoto and David Rand at the University of Braga, Portugal, on September 8-12, 2008. The aim of these volumes is to present cutting-edge research in these areas to encourage graduate students and researchers in mathematics and other fields to develop them further.
Author | : Samuel Bowles |
Publisher | : Princeton University Press |
Total Pages | : 251 |
Release | : 2016-05-31 |
Genre | : Business & Economics |
ISBN | : 0691170932 |
Download Poverty Traps Book in PDF, ePub and Kindle
Much popular belief--and public policy--rests on the idea that those born into poverty have it in their power to escape. But the persistence of poverty and ever-growing economic inequality around the world have led many economists to seriously question the model of individual economic self-determination when it comes to the poor. In Poverty Traps, Samuel Bowles, Steven Durlauf, Karla Hoff, and the book's other contributors argue that there are many conditions that may trap individuals, groups, and whole economies in intractable poverty. For the first time the editors have brought together the perspectives of economics, economic history, and sociology to assess what we know--and don't know--about such traps. Among the sources of the poverty of nations, the authors assign a primary role to social and political institutions, ranging from corruption to seemingly benign social customs such as kin systems. Many of the institutions that keep nations poor have deep roots in colonial history and persist long after their initial causes are gone. Neighborhood effects--influences such as networks, role models, and aspirations--can create hard-to-escape pockets of poverty even in rich countries. Similar individuals in dissimilar socioeconomic environments develop different preferences and beliefs that can transmit poverty or affluence from generation to generation. The book presents evidence of harmful neighborhood effects and discusses policies to overcome them, with attention to the uncertainty that exists in evaluating such policies.
Author | : Leon A. Petrosyan |
Publisher | : Springer Nature |
Total Pages | : 294 |
Release | : 2020-10-31 |
Genre | : Mathematics |
ISBN | : 3030519414 |
Download Frontiers of Dynamic Games Book in PDF, ePub and Kindle
This book includes papers presented at the ISDG12-GTM2019 International Meeting on Game Theory, as a joint meeting of the 12th International ISDG Workshop and the 13th "International Conference on Game Theory and Management”, held in St. Petersburg in July 2019. The topics cover a wide range of game-theoretic models and include both theory and applications, including applications to management.
Author | : Christopher B. Barrett |
Publisher | : Routledge |
Total Pages | : 423 |
Release | : 2006-10-03 |
Genre | : Business & Economics |
ISBN | : 1135993742 |
Download The Social Economics of Poverty Book in PDF, ePub and Kindle
A unique analysis of the moral and social dimensions of microeconomic behaviour in developing countries, this book calls into question standard notions of rationality and many of the assumptions of neo-classical economics, and shows how these are inappropriate in communities with widespread disparity in incomes. This book will prove to be essential for students studying development economics.
Author | : Bruce Wydick |
Publisher | : Cambridge University Press |
Total Pages | : 17 |
Release | : 2007-12-24 |
Genre | : Business & Economics |
ISBN | : 1139468014 |
Download Games in Economic Development Book in PDF, ePub and Kindle
Games in Economic Development examines the roots of poverty and prosperity through the lens of elementary game theory, illustrating how patterns of human interaction can lead to vicious cycles of poverty as well as virtuous cycles of prosperity. This book shows how both social norms and carefully designed institutions can help shape the 'rules of the game', making better outcomes in a game possible for everyone involved. The book is entertaining to read, it can be accessed with little background in development economics or game theory. Its chapters explore games in natural resource use; education; coping with risk; borrowing and lending; technology adoption; governance and corruption; civil conflict; international trade; and the importance of networks, religion, and identity, illustrating concepts with numerous anecdotes from recent world events. Comes complete with an appendix, explaining the basic ideas in game theory used in the book.
Author | : Pauline Maclaran |
Publisher | : SAGE Publications |
Total Pages | : 545 |
Release | : 2009-12-22 |
Genre | : Business & Economics |
ISBN | : 184787505X |
Download The SAGE Handbook of Marketing Theory Book in PDF, ePub and Kindle
This exciting new Handbook brings together the latest in debates concerning the development of marketing theory, featuring original contributions from a selection of leading international authors. The collection aims to give greater conceptual cohesion to the field, by drawing together the many disparate perspectives and presenting them in one volume. The contributors are all leading international scholars, chosen to represent the intellectual diversity within marketing theory.
Author | : Alberto Adrego Pinto |
Publisher | : Springer |
Total Pages | : 749 |
Release | : 2014-06-20 |
Genre | : Mathematics |
ISBN | : 331904849X |
Download Modeling, Dynamics, Optimization and Bioeconomics I Book in PDF, ePub and Kindle
This volume explores the emerging and current, cutting-edge theories and methods of modeling, optimization, dynamics and bio economy. It provides an overview of the main issues, results and open questions in these fields as well as covers applications to biology, economy, energy, industry, physics, psychology and finance. The majority of the contributed papers for this volume come from the participants of the International Conference on Modeling, Optimization and Dynamics (ICMOD 2010), a satellite conference of EURO XXIV Lisbon 2010, which took place at Faculty of Sciences of University of Porto, Portugal and from the Berkeley Bio economy Conference 2012, at the University of California, Berkeley, USA.