Abstracts » Economics

Evolution with changing mutation rates

Article Abstract:

A correlation was established between a game's long-term equilibrium and ergodic behavior. Under an assumption that mutation rates are variable, a game tends to attain long-term equilibrium whenever it behaves in an ergodic way. Such ergodicity becomes highly restrictive as the size of the population becomes bigger. Ergodic distribution disappears when mutation rates fall to zero level very rapidly.

Models, Game theory

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The knowledge problem, entrepreneurial discovery, and Austrian market process theory

Article Abstract:

Austrian market process theory is extended using a model based on the used car market. The knowledge problem and entrepreneurial mistakes are assessed, and disequilibrium market adjustment and how it is affected by entrepreneurial behavior are also examined.

Economic aspects, Businessmen, Knowledge, Theory of, Epistemology

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On the indices of zeros of Nash fields

Article Abstract:

Research is presented concerning the characteristics of dynamics whose zeros form the Nash equilibria of underlying games. The determination of the properties of the zeros is discussed.

Economic research, Stability

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