 Rationalizability and interactivity in evolutionary OLG modelsPSE-Ecole d'économie de Paris (Postprint) from HAL Abstract: We use the theory of rationalizable choices to study the survival and the extinction of types (or traits) in evolutionary OLG models. Two properties of evolutionary processes are introduced: rationalizability by a fitness ordering (i.e. only the most fit types survive) and interactivity (i.e. a withdrawal of types affects the survival of other types). Those properties are shown to be logically incompatible. We then examine whether the evolutionary processes at work in canonical evolutionary OLG models satisfy rationalizability or interactivity. We study nn-type version of the evolutionary OLG models of Galor and Moav (2002) and Bisin and Verdier (2001), and show that, while the evolutionary process at work in the former is generally rationalizable by a fitness ordering, the opposite is true for the latter, which exhibits, in general, interactivity. Keywords: OLG; models (search for similar items in EconPapers) Published in Mathematical Social Sciences, 2013, 66 (2), pp.105-116. ⟨10.1016/j.mathsocsci.2013.04.004⟩ There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:hal:pseptp:halshs-00847265 DOI: 10.1016/j.mathsocsci.2013.04.004 Access Statistics for this paper More papers in PSE-Ecole d'économie de Paris (Postprint) from HAL |
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