A comparison of learning and replicator dynamics using experimental data

Article Abstract:

Data obtained from more than 18 laboratory sessions were utilized to compare learning and simple belief learning dynamics. The data revealed that the simple belief learning model is more effective in explaining the behavior of individual players than the replicator model. The simple learning dynamics surpassed the replicator model on single population data and on two population data.

Decision-making, Decision making, Game theory

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On endogenous growth and increasing returns: modeling learning-by-doing and the division of labor

Article Abstract:

Research describing the microeconomic aspects of the division of labor and the learning by doing model of capital accumulation is presented. In particular the sources of endogenous growth within a labor market are investigated.

Division of labor

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Statistical dynamics and Walras' law

Article Abstract:

Research describing Walras' tatonnement processes is presented. In particular the stochastic properties of deterministic tatonnement are investigated by means of ergodic theory.

Inflation (Finance), Walrasian model, Inflation (Economics)

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