On the human brain activities in social interaction, there may be associated with some kind of reinforcement mechanism like crowd psychology or mimicking drive, or sometimes, creating a social mechanism like punishments. Some of such reinforcement mechanisms can be interpreted with a nonlinear Polya urn process of which W. Brian Arthur(1994) is fond. He called structure as emergence of a new co...

What are the determinants of altruism? While economists assume that altruism is mainly driven by fairness norms, social psychologists consider empathy to be a key motivator for altruistic behavior. To unite these two theories, we conducted an experiment in which we compared behavior in a standard economic game that assesses altruism (the so-called Dictator Game) with a Dictator Game in which pa...

Abstract We study a credit-risk model which captures effects of economic interactions on a firm’s default probability. Economic interactions are represented as a functionally defined graph, and the existence of both cooperative and competitive business relations is taken into account. We provide an analytic solution of the model in a limit where the number of business relations of each company ...

Most economic models implicitly or explicitly assume that interactions between economic agents are ‘global’ in other words, each agent interacts in a uniform manner with every other agent. However, localized interactions between microeconomic agents are a pervasive feature of reality. What are the implications of more limited interaction? One set of mathematical tools which appears useful in ex...

the interactions and linkages between urban centers and peripheral settlements are increasingly recognized as key factors in the process of social, economic and environmental changes in peripheral settlements. despite this, most practices are implicitly based on a dichotomous view of population and activities in urban and peripheral area. this paper presents that how interactions between urba...

T his paper examined whether monetary policy is acyclical, procyclical or countercyclical and the implications of the interaction of such cyclicality with industrial output on real economic growth in Nigeria. After determining the time series properties of the variables and based on conventional cyclicality measures, the fully modified ordinary least square method was used to examine...

Economic interactions are conducted between economic agents individuals and collectives, through exchange of natural or artificial entities goods, services and money, in a myriad of combinations. In this article we adopt a microscopic point of view, concentrating on the exchanged entities, and extracting their relevant attributes as seen from structurally simple economic processes. Following th...