{"title":"Selection mechanisms in economics","authors":"Pier Luigi Sacco","doi":"10.1002/bs.3830390406","DOIUrl":null,"url":null,"abstract":"<p>Building an explicit modelling framework for the dynamics generated by adaptive behavior of decision makers in a decentralized system is one of the main goals of recent theoretical research in economics. We propose to model adaptive dynamics in terms of a certain selection mechanism characterized by different degrees of individual inertia to environmental changes. Some methodological points, with special reference to the main points of departure from biologically motivated selection mechanisms, are discussed.</p>","PeriodicalId":75578,"journal":{"name":"Behavioral science","volume":"39 4","pages":"311-325"},"PeriodicalIF":0.0000,"publicationDate":"1994-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1002/bs.3830390406","citationCount":"7","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Behavioral science","FirstCategoryId":"1085","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1002/bs.3830390406","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 7
Abstract
Building an explicit modelling framework for the dynamics generated by adaptive behavior of decision makers in a decentralized system is one of the main goals of recent theoretical research in economics. We propose to model adaptive dynamics in terms of a certain selection mechanism characterized by different degrees of individual inertia to environmental changes. Some methodological points, with special reference to the main points of departure from biologically motivated selection mechanisms, are discussed.
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