The social selection of flexible and rigid agents
Article Abstract:
A study is conducted on the influence of social systems on the behavior of flexible and rigid agents within the system. It is assumed that flexible agents maximize their probability of survival by selecting actions that suit an existing environment. On the other hand, rigid agents develop proficiency in a particular action by always choosing the same action. It is shown that current actions have the biggest influence on an agent's current performance.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1998
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A theory of rigid extremists and flexible moderates with an application to the U.S. Congress
Article Abstract:
Psychologists refer to the rigidity-flexibility dimension as an indicator of a person's ability to form new opinions in response to a heterogeneity of conflicting facts and ideas. This paper suggests that there is a positive correlation between extreme opinions and rigid thinking.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 2000
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A simple approach for deciding when to invest
Article Abstract:
When deciding whether to invest, the well recognized net present value (NPV) rule is valuable, but only in certain conditions. This paper presents a rule that would work for a broad range of projects. Empirical data is included.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1999
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