| 1. |
- Accinelli, Elvio, et al.
(författare)
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Free Mobility of Capital and Labor Force in a Two-Country Model: The Dynamic Game” for Growth
- 2019
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Ingår i: The Journal of Dynamics and Games. - : American Institute of Mathematical Sciences (AIMS). - 2164-6066 .- 2164-6074. ; 6:3, s. 179-194
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Tidskriftsartikel (refereegranskat)abstract
- In this paper, we consider a two-country and two-sector economy, where firms can choose to be innovative or not innovative, and workers to be skilled or unskilled. Using a dynamic game, we argue that exploiting the comparative advantages a country has in producing goods that use the most abundant factor of production, free mobility of capital and labour is beneficial for economic growth. However, if a country has a comparative advantage in a sector that uses intensely unskilled labour (which is the case of several underdeveloped economies), a poverty trap may arise. For this reason we argue that national Governments must ensure the technological development to improve competitiveness and therefore a social optimal use of the comparative advantages.
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| 2. |
- Gibaud, Sylvain, et al.
(författare)
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The dynamics of fitness and wealth distributions - a stochastic game-theoretic model
- 2022
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Ingår i: Journal of Dynamics and Games. - : American Institute of Mathematical Sciences. - 2164-6074 .- 2164-6066. ; 9:4, s. 405-432
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Tidskriftsartikel (refereegranskat)abstract
- A model of the dynamics of distributions of individual wealth, or of individual Darwinian fitness, is here developed. Pairs of individuals are recurrently and randomly matched to play a game over a resource. In addition, all individuals have random access to a constant background source, and their fitness or wealth depreciates over time. For brevity, we focus on the wellknown Hawk-Dove game. In the base-line model, the probability of winning a fight over a resource is the same for both parties. In an extended version, the individual with higher current fitness or wealth has a higher probability of winning. Analytical results are given for the fitness/wealth distribution at any given time, for the evolution of average fitness/wealth over time, and for the asymptotics with respect to both time and population size. Long-run average fitness/wealth is non-monotonic in the value of the resource, thus providing a potential explanation of the so-called curse of the riches.
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