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on Evolutionary Economics |
| By: | Marco, Jorge; Goetz, Renan |
| Abstract: | This study revisits the problem of the tragedy of the commons. Extracting agents participate in an evolutionary game in a complex social network and are subject to social pressure if they do not comply with the social norms. Social pressure depends on the dynamics of the resource, the network and the population of compliers. We analyze the influence the network structure has on the agents’ behavior and determine the economic value of the intangible good - social pressure. For a socially optimal management of the resource, an initially high share of compliers is necessary but is not sufficient. The analysis shows the extent to which the remaining level of the resource, the share of compliers and the size, density and local cohesiveness of the network contribute to overcoming the tragedy of the commons. The study suggests that the origin of the problem – shortsighted behavior - is also the starting point for a solution in the form of a one-time payment. A numerical analysis of a social network comprising 7500 agents and a realistic topological structure is performed using empirical data from the western La Mancha aquifer in Spain. |
| Keywords: | Research Methods/ Statistical Methods |
| Date: | 2017–07–13 |
| URL: | http://d.repec.org/n?u=RePEc:ags:feemth:259486&r=all |
| By: | Johan Fourie (LEAP, Department of Economics, Stellenbosch University); Nonso Obikili (LEAP, Department of Economics, Stellenbosch University) |
| Abstract: | Our understanding of Africa's economic past -- the causes and consequences of precolonial polities, the slave trade, state formation, the Scramble for Africa, European settlement, and independence -- has improved markedly over the last two decades. Much of this is the result of the cliometric turn in African economic history, what some have called a `renaissance'. Whilst acknowledging that cliometrics is not new to African history, this chapter examines the major recent contributions, noting their methodological advances and dividing them into four broad themes: persistence of deep traits, slavery, colonialism and independence. We conclude with a brief bibliometric exercise, noting the lack of Africans working at the frontier of African cliometrics. |
| Keywords: | Africa, history, poverty, reversal of fortunes, sub-Saharan, trade, slavery, colonialism, missionaries, independence |
| JEL: | N01 N37 O10 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:sza:wpaper:wpapers316&r=all |
| By: | Foreman-Peck, James (Cardiff Business School); Zhou, Peng (Cardiff Business School) |
| Abstract: | A dynamic stochastic unified growth model is estimated from English economy data for almost a millennium. At the core of the (seven) overlapping generations, rational expectations structure is household choice about target number and quality of children. The trends of births, deaths, population and, the real wage, are closely matched by the estimated model. In the 19th century English fertility transition, the model shows how the generalized child price relative to the child quality price rose. The rising opportunity cost of education was as decisive for the transition as the parental shift to child quality. |
| Keywords: | Economic Development, Demography, Unified Growth, Overlapping Generations, English Economy |
| JEL: | O11 J11 N13 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:cdf:wpaper:2019/8&r=all |