search query: @author To, T. / total: 3
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Author: | To, T. |
Title: | Risk and evolution |
Journal: | Economic Theory
1999 : VOL. 13:2, p. 329-344 |
Index terms: | ECONOMICS RISK EVOLUTIONARY ECONOMICS |
Language: | eng |
Abstract: | The author examines a Knightian (1921) model of risk using a general equilibrium model of investment and trade. A population of agents with various preference types can choose between a safe production technology and a risky production technology. In addition, the distribution of types of agents changes through a standard evolutionary dynamic. |
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