infonet-economy

We analyse the stability properties of mixed equilibria in 2×2 asymmetric games under evolutionary dynamics. With the standard replicator dynamics these equilibria are stable but not asymptotically stable. We modified the replicator dynamics by introducing players of two types: myopies — like in the standard replicator dynamics — and best
responders. The behaviour of the latter...

The paper presents an empirical analysis of a model of endogenous growth and innovation with unequal incomes and hierarchical consumer demand. The theoretical model predicts a positive impact of income inequality on product diversity. The impact of inequality on per-capita growth may be positive or negative depending upon the assumptions about productivity growth, where the standard...

A bank's financial management faces various sources of uncertainty when funds from savings account deposits are invested in the marketplace. Future interest rates are unknown and customers are allowed to withdraw their deposits at any point in time. The objective is to find a portfolio of fixed income instruments that maximizes the bank's interest surplus from the...

'Mehr Markt!' lautet heute das (allzu) simple neoliberale Generalrezept zur Lösung fast aller gesellschafts- und wirtschaftspolitischen Probleme. Dass dies der Standpunkt bestimmter, vorrangig an ihren Partikularinteressen orientierter Wirtschaftspraktiker und Politiker ist, verwundert nicht unbedingt. Schwerer nachzuvollziehen ist, dass auch die überwiegende Zahl der...