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The social selection of flexible and rigid agents

Article Abstract:

A study is conducted on the influence of social systems on the behavior of flexible and rigid agents within the system. It is assumed that flexible agents maximize their probability of survival by selecting actions that suit an existing environment. On the other hand, rigid agents develop proficiency in a particular action by always choosing the same action. It is shown that current actions have the biggest influence on an agent's current performance.

Author: Harrington, Joseph E., Jr.
Publisher: American Economic Association
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1998
Analysis, Behavioral assessment, Social psychology

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A theory of rigid extremists and flexible moderates with an application to the U.S. Congress

Article Abstract:

Psychologists refer to the rigidity-flexibility dimension as an indicator of a person's ability to form new opinions in response to a heterogeneity of conflicting facts and ideas. This paper suggests that there is a positive correlation between extreme opinions and rigid thinking.

Author: Blomberg, S. Brock, Harrington, Joseph E., Jr.
Publisher: American Economic Association
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 2000
Econometrics & Model Building, Psychological aspects, Decision-making, Decision making, Econometrics, Business models

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A simple approach for deciding when to invest

Article Abstract:

When deciding whether to invest, the well recognized net present value (NPV) rule is valuable, but only in certain conditions. This paper presents a rule that would work for a broad range of projects. Empirical data is included.

Author: Berk, Jonathan B.
Publisher: American Economic Association
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1999
Research, Investments

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Subjects list: Models, Statistical Data Included, United States, Economics, Economic research
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