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UID:feefcdf77f2ef84bfeb0d7e447be4751
CATEGORIES:Seminars
CREATED:20231011T092027
SUMMARY:Omer Moav - University of Warwick
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nThe Coevolution of Patience and Collaboration\n\n\nAbstract:\nWe study 
 the determinants of economic collaboration in an evolutionary model of inhe
 rited time preferences. The population consists of patient and impatient ag
 ents, with evolutionary fitness depending on income. Individuals choose bet
 ween home production and going to the market, where they are randomly match
 ed in pairs for collaboration in production. Collaboration has the potentia
 l for ongoing higher productivity but is vulnerable to defection. In equili
 brium, at least some of the impatient agents go to the collaboration market
  but they always defect. Patient agents always go to the market and coopera
 te, even if their fraction of the population is arbitrarily small. In the n
 ontrivial evolutionary steady state, a higher return to collaboration could
  increase or decrease collaboration in the economy. The provision of law an
 d order, by punishing defectors, unambiguously increases collaboration. Thu
 s, the model generates empirical predictions linking state history to curre
 nt trust, collaboration, and wealth.\n
DTSTAMP:20260409T034736Z
DTSTART:20240229T143000Z
DTEND:20240229T160000Z
SEQUENCE:0
TRANSP:OPAQUE
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