Evolutionary Games And Poverty Traps

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Evolutionary Games and Poverty Traps

Edgar J. Sánchez Carrera
Evolutionary Games and Poverty Traps Book PDF

Author : Edgar J. Sánchez Carrera
Publisher : Cambridge Scholars Publishing
Page : 144 pages
File Size : 49,9 Mb
Release : 2015-11-25
Category : Business & Economics
ISBN : 9781443886345

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Evolutionary Games and Poverty Traps by Edgar J. Sánchez Carrera Pdf

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.

Evolutionary Games and the Replicator Dynamics

Saul Mendoza-Palacios,Onésimo Hernández-Lerma
Evolutionary Games and the Replicator Dynamics Book PDF

Author : Saul Mendoza-Palacios,Onésimo Hernández-Lerma
Publisher : Cambridge University Press
Page : 120 pages
File Size : 52,9 Mb
Release : 2024-06-06
Category : Business & Economics
ISBN : 9781009472296

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Evolutionary Games and the Replicator Dynamics by Saul Mendoza-Palacios,Onésimo Hernández-Lerma Pdf

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.

Evolutionary Games in Natural, Social, and Virtual Worlds

Daniel Friedman,Barry Sinervo
Evolutionary Games in Natural Social and Virtual Worlds Book PDF

Author : Daniel Friedman,Barry Sinervo
Publisher : Oxford University Press
Page : 320 pages
File Size : 41,9 Mb
Release : 2016-02-01
Category : Business & Economics
ISBN : 9780199981175

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Evolutionary Games in Natural, Social, and Virtual Worlds by Daniel Friedman,Barry Sinervo Pdf

Over the last 25 years, evolutionary game theory has grown with theoretical contributions from the disciplines of mathematics, economics, computer science and biology. It is now ripe for applications. In this book, Daniel Friedman---an economist trained in mathematics---and Barry Sinervo---a biologist trained in mathematics---offer the first unified account of evolutionary game theory aimed at applied researchers. They show how to use a single set of tools to build useful models for three different worlds: the natural world studied by biologists; the social world studied by anthropologists, economists, political scientists and others; and the virtual world built by computer scientists and engineers. The first six chapters offer an accessible introduction to core concepts of evolutionary game theory. These include fitness, replicator dynamics, sexual dynamics, memes and genes, single and multiple population games, Nash equilibrium and evolutionarily stable states, noisy best response and other adaptive processes, the Price equation, and cellular automata. The material connects evolutionary game theory with classic population genetic models, and also with classical game theory. Notably, these chapters also show how to estimate payoff and choice parameters from the data. The last eight chapters present exemplary game theory applications. These include a new coevolutionary predator-prey learning model extending rock-paper-scissors; models that use human subject laboratory data to estimate learning dynamics; new approaches to plastic strategies and life cycle strategies, including estimates for male elephant seals; a comparison of machine learning techniques for preserving diversity to those seen in the natural world; analyses of congestion in traffic networks (either internet or highways) and the "price of anarchy"; environmental and trade policy analysis based on evolutionary games; the evolution of cooperation; and speciation. As an aid for instruction, a web site provides downloadable computational tools written in the R programming language, Matlab, Mathematica and Excel.

Dynamics, Games and Science I

Mauricio Matos Peixoto,Alberto Adrego Pinto,David A. Rand
Dynamics Games and Science I Book PDF

Author : Mauricio Matos Peixoto,Alberto Adrego Pinto,David A. Rand
Publisher : Springer Science & Business Media
Page : 809 pages
File Size : 54,7 Mb
Release : 2011-03-29
Category : Mathematics
ISBN : 9783642114564

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Dynamics, Games and Science I by Mauricio Matos Peixoto,Alberto Adrego Pinto,David A. Rand Pdf

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.

Games and Dynamics in Economics

Ferenc Szidarovszky,Gian Italo Bischi
Games and Dynamics in Economics Book PDF

Author : Ferenc Szidarovszky,Gian Italo Bischi
Publisher : Springer Nature
Page : 303 pages
File Size : 42,6 Mb
Release : 2020-04-11
Category : Mathematics
ISBN : 9789811536236

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Games and Dynamics in Economics by Ferenc Szidarovszky,Gian Italo Bischi Pdf

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.

Evolution, Games, and Economic Behaviour

Fernando Vega-Redondo
Evolution Games and Economic Behaviour Book PDF

Author : Fernando Vega-Redondo
Publisher : OUP Oxford
Page : 220 pages
File Size : 48,9 Mb
Release : 1996-09-26
Category : Business & Economics
ISBN : 9780191525087

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Evolution, Games, and Economic Behaviour by Fernando Vega-Redondo Pdf

This textbook for advanced undergraduate and postgraduate students of Evolutionary Game Theory covers recent developments in the field, with an emphasis on economic contexts and applications. It begins with the basic ideas as they originated within the field of theoretical biology and then proceeds to the formulation of a theoretical framework that is suitable for the study of social and economic phenomena from an evolutionary perspective. Core topics include the Evolutionary Stable Strategy (EES) and Replicator Dynamics (RD), deterministic dynamic models, and stochastic perturbations. A set of short appendices presents some of the technical material referred to in the main text. Evolutionary theory is widely viewed as one of the most promising appraoches to understanding bounded rationality, learning, and change in complex social environments. New avenues of research are suggested by Vega-Redondo, and plentiful exmples illustrate the theory's potential applications. The recent boom experienced by this dscipline makes the book's systematic presentation of its essential contributions vital reading for newcomer to the field.

Population Games and Evolutionary Dynamics

William H. Sandholm
Population Games and Evolutionary Dynamics Book PDF

Author : William H. Sandholm
Publisher : MIT Press
Page : 618 pages
File Size : 49,7 Mb
Release : 2010-12-17
Category : Business & Economics
ISBN : 9780262195874

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Population Games and Evolutionary Dynamics by William H. Sandholm Pdf

Evolutionary game theory studies the behaviour of large populations of strategically interacting agents & is used by economists to predict in settings where traditional assumptions about the rationality of agents & knowledge may be inapplicable.

Evolutionary Games and Population Dynamics

Josef Hofbauer,Karl Sigmund
Evolutionary Games and Population Dynamics Book PDF

Author : Josef Hofbauer,Karl Sigmund
Publisher : Cambridge University Press
Page : 356 pages
File Size : 50,6 Mb
Release : 1998-05-28
Category : Mathematics
ISBN : 052162570X

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Evolutionary Games and Population Dynamics by Josef Hofbauer,Karl Sigmund Pdf

Every form of behaviour is shaped by trial and error. Such stepwise adaptation can occur through individual learning or through natural selection, the basis of evolution. Since the work of Maynard Smith and others, it has been realised how game theory can model this process. Evolutionary game theory replaces the static solutions of classical game theory by a dynamical approach centred not on the concept of rational players but on the population dynamics of behavioural programmes. In this book the authors investigate the nonlinear dynamics of the self-regulation of social and economic behaviour, and of the closely related interactions between species in ecological communities. Replicator equations describe how successful strategies spread and thereby create new conditions which can alter the basis of their success, i.e. to enable us to understand the strategic and genetic foundations of the endless chronicle of invasions and extinctions which punctuate evolution. In short, evolutionary game theory describes when to escalate a conflict, how to elicit cooperation, why to expect a balance of the sexes, and how to understand natural selection in mathematical terms.

Frontiers of Dynamic Games

Leon A. Petrosyan,Vladimir V. Mazalov,Nikolay A. Zenkevich
Frontiers of Dynamic Games Book PDF

Author : Leon A. Petrosyan,Vladimir V. Mazalov,Nikolay A. Zenkevich
Publisher : Springer Nature
Page : 294 pages
File Size : 45,9 Mb
Release : 2020-10-31
Category : Mathematics
ISBN : 9783030519414

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Frontiers of Dynamic Games by Leon A. Petrosyan,Vladimir V. Mazalov,Nikolay A. Zenkevich Pdf

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.

Evolutionary Games and Equilibrium Selection

Larry Samuelson
Evolutionary Games and Equilibrium Selection Book PDF

Author : Larry Samuelson
Publisher : MIT Press
Page : 332 pages
File Size : 50,5 Mb
Release : 1997
Category : Business & Economics
ISBN : 0262692198

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Evolutionary Games and Equilibrium Selection by Larry Samuelson Pdf

The author examines the interplay between evolutionary game theory and the equilibrium selection problem in noncooperative games. Evolutionary game theory is one of the most active and rapidly growing areas of research in economics. Unlike traditional game theory models, which assume that all players are fully rational and have complete knowledge of details of the game, evolutionary models assume that people choose their strategies through a trial-and-error learning process in which they gradually discover that some strategies work better than others. In games that are repeated many times, low-payoff strategies tend to be weeded out, and an equilibrium may emerge. Larry Samuelson has been one of the main contributors to the evolutionary game theory literature. In Evolutionary Games and Equilibrium Selection, he examines the interplay between evolutionary game theory and the equilibrium selection problem in noncooperative games. After providing an overview of the basic issues of game theory and a presentation of the basic models, the book addresses evolutionary stability, the dynamics of sample paths, the ultimatum game, drift, noise, backward and forward induction, and strict Nash equilibria.

Poverty Traps

Samuel Bowles,Steven N. Durlauf,Karla Hoff
Poverty Traps Book PDF

Author : Samuel Bowles,Steven N. Durlauf,Karla Hoff
Publisher : Princeton University Press
Page : 251 pages
File Size : 50,5 Mb
Release : 2016-05-31
Category : Business & Economics
ISBN : 9780691170930

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Poverty Traps by Samuel Bowles,Steven N. Durlauf,Karla Hoff Pdf

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.

The Social Economics of Poverty

Christopher B. Barrett
The Social Economics of Poverty Book PDF

Author : Christopher B. Barrett
Publisher : Routledge
Page : 423 pages
File Size : 40,7 Mb
Release : 2006-10-03
Category : Business & Economics
ISBN : 9781135993740

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The Social Economics of Poverty by Christopher B. Barrett Pdf

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.

Evolutionary Game Theory

Jörgen W. Weibull
Evolutionary Game Theory Book PDF

Author : Jörgen W. Weibull
Publisher : MIT Press
Page : 292 pages
File Size : 42,6 Mb
Release : 1997
Category : Business & Economics
ISBN : 0262731215

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Evolutionary Game Theory by Jörgen W. Weibull Pdf

Introduces current evolutionary game theory--where ideas from evolutionary biology and rationalistic economics meet--emphasizing the links between static and dynamic approaches and noncooperative game theory. This text introduces current evolutionary game theory--where ideas from evolutionary biology and rationalistic economics meet--emphasizing the links between static and dynamic approaches and noncooperative game theory. Much of the text is devoted to the key concepts of evolutionary stability and replicator dynamics. The former highlights the role of mutations and the latter the mechanisms of selection. Moreover, set-valued static and dynamic stability concepts, as well as processes of social evolution, are discussed. Separate background chapters are devoted to noncooperative game theory and the theory of ordinary differential equations. There are examples throughout as well as individual chapter summaries. Because evolutionary game theory is a fast-moving field that is itself branching out and rapidly evolving, Jörgen Weibull has judiciously focused on clarifying and explaining core elements of the theory in an up-to-date, comprehensive, and self-contained treatment. The result is a text for second-year graduate students in economic theory, other social sciences, and evolutionary biology. The book goes beyond filling the gap between texts by Maynard-Smith and Hofbauer and Sigmund that are currently being used in the field. Evolutionary Game Theory will also serve as an introduction for those embarking on research in this area as well as a reference for those already familiar with the field. Weibull provides an overview of the developments that have taken place in this branch of game theory, discusses the mathematical tools needed to understand the area, describes both the motivation and intuition for the concepts involved, and explains why and how it is relevant to economics.

The SAGE Handbook of Marketing Theory

Pauline Maclaran,Michael Saren,Barbara Stern,Mark Tadajewski
The SAGE Handbook of Marketing Theory Book PDF

Author : Pauline Maclaran,Michael Saren,Barbara Stern,Mark Tadajewski
Publisher : SAGE
Page : 546 pages
File Size : 52,6 Mb
Release : 2009-12-04
Category : Business & Economics
ISBN : 9781446206980

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The SAGE Handbook of Marketing Theory by Pauline Maclaran,Michael Saren,Barbara Stern,Mark Tadajewski Pdf

Bringing together the latest debates concerning the development of marketing theory, featuring original contributions from a selection of leading international authors, this 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. Divided into six parts, the Handbook covers the historical development of marketing theory; its philosophical underpinnings; major theoretical debates; the impact of theory on representations of the consumer; the impact of theory on representations of the marketing organisation and contemporary issues in marketing theory.

Modeling, Dynamics, Optimization and Bioeconomics I

Alberto Adrego Pinto,David Zilberman
Modeling Dynamics Optimization and Bioeconomics I Book PDF

Author : Alberto Adrego Pinto,David Zilberman
Publisher : Springer
Page : 753 pages
File Size : 45,6 Mb
Release : 2014-06-20
Category : Mathematics
ISBN : 9783319048499

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Modeling, Dynamics, Optimization and Bioeconomics I by Alberto Adrego Pinto,David Zilberman Pdf

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.