haku: @indexterm evolutionary economics / yhteensä: 34
viite: 21 / 34
| Tekijä: | Dixon, H. |
| Otsikko: | Keeping up with the Joneses: competition and the evolution of collusion |
| Lehti: | Journal of Economic Behavior and Organization
2000 : OCT, VOL. 43:2, p. 223-238 |
| Asiasana: | EVOLUTIONARY ECONOMICS LEARNING PAY |
| Kieli: | eng |
| Tiivistelmä: | An economy consists of many markets, each of which is a duopoly. Firms must earn normal-profits in the long-run if they have to survive. Normal-profits are interpreted as the long-run limit of average profits in the whole economy. The author adopts an aspiration based model of firm behavior, linking it to the economy with the requirement that in the long-run, the profit aspiration must be at least as great as normal-profits. |
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