We investigate adaptive or evolutionary learning in a repeated version of the Grossman and Stiglitz (1980) model. We demonstrate that any process that is a monotonic selection dynamic will converge to the rational expectations asset demands if the proportion of informed traders is fixed. We also show that these learning processes have a unique asymptotically stable fixed point at the Grossman–S...

— We give an overview of the theory of Heegner points for elliptic curves, and then describe various new ideas that can be used in the computation of rational points on rank 1 elliptic curves. In particular, we discuss the idea of Cremona (following Silverman) regarding recovery a rational point via knowledge of its height, the idea of Delaunay regarding the use of Atkin-Lehner involutions in t...

We use a combination of both symbolic and numerical techniques to construct a degree bounded C-continuous, rational B-spline -approximations of real algebraic surface-surface intersection curves. The algebraic surfaces could be either in implicit or rational parametric form. At singular points we use the classical Newton power series factorizations to determine the distinct branches of the spac...

Agent-based modeling has been criticized for its apparent lack of establishing causality of social phenomena. However, we demonstrate that when coupled with evolutionary computation techniques, agent-based models can be used to evolve plausible agent behaviors that are able to recreate patterns observed in real-world data, from which valuable insights into candidate explanations of the macro-ph...

We report the first electrophysiological investigation of the inverse base-rate effect (IBRE), a robust non-rational bias in predictive learning. In the IBRE, participants learn that one pair of symptoms (AB) predicts a frequently occurring disease, whilst an overlapping pair of symptoms (AC) predicts a rarely occurring disease. Participants subsequently infer that BC predicts the rare disease,...

This paper extends the Adaptively Rational Equilibrium Dynamics (ARED) of (Brock and Hommes 1997) by introducing a generalized version of the replicator dynamic of (Sethi and Franke 1995). The Replicator Equilibrium Dynamics (RED) couples the price dynamics of a cobweb model with predictor selection governed by an evolutionary replicator dynamic. We show that the RED supports the main conclusio...

Mate choice models derive from traditional microeconomic decision theory and assume that individuals maximize their Darwinian fitness by making economically rational decisions. Rational choices exhibit regularity, whereby the relative strength of preferences between options remains stable when additional options are presented. We tested female frogs with three simulated males who differed in re...

In this paper, we present a generalized entropy criterion for solving the rational Nevanlinna–Pick problem for + 1 interpolating conditions and the degree of interpolants bounded by . The primal problem of maximizing this entropy gain has a very well-behaved dual problem. This dual is a convex optimization problem in a finite-dimensional space and gives rise to an algorithm for finding all inte...