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Gaussian Noise Effects on the Evolution of Wealth in a Closed System of n-Economies
stochastic economic agents wealth distribution
2011/3/23
Based on the stochastic model proposed by Patriarca-Kaski-Chakraborti that describes the exchange of wealth between $n$ economic agents, we analyze the evolution of the corresponding economies under t...
CARL MENGER AND FRIEDRICH VON WIESER ON THE ROLE OF KNOWLEDGE AND BELIEFS IN THE EMERGENGE A ND EVOLUTION OF INSTITUTIONS
CARL MENGER FRIEDRICH VON WIESER ROLE OF KNOWLEDGE BELIEFS EMERGENGE A ND EVOLUTION
2014/6/24
In this article we start from the well - known contribution of the Austrian school with respect to the problem of knowledge and its role in inter- individual coordination. Focusing on two authors...