Which one should I imitate?

Article Abstract:

A study was conducted to analyze how a bounded rational person should learn from the experience of a limited number of other individuals who face the same decision. The double sampling method was utilized, in which an individual may learn between making choices from the experience of two other randomly chosen persons. Results indicated that the formalization of performance correlates with the same class of so-called 'strictly improving' behavioral rules.

Research, Imitation, Social learning

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Fixed capital and internal rate of return

Article Abstract:

It was shown that the optimum rate of growth and the minimum rate of interest are both equal to the internal rate of return for a neo-Austrian process of production. Theoretical bases for the internal rate of return criterion in infinite horizon were also determined. The von Neumann type equality was determined during the absence of truncation, such as the free disposal of fixed capital.

Analysis, Return on investment, Capital, Rate of return

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