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Evolution of the Week

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Author Info

  • Amy Peng

    ()
    (Department of Economics, Ryerson University, Toronto, Canada)

  • Francis McKenna

    ()
    (Ontario Ministry of Finance, Toronto, Canada)

Abstract

The purpose of this paper is to provide an intuitive explanation of the emergence and evolution of the week based on a historical precedent draw from ancient Egypt. In this paper, we view the week as a coordinating social institution that was created to resolve a fundamental problem of society - coordinating market exchange. Artificial adaptive agents are used to simulate the interactions among farmers going to market. The results show that the length of the week that emerges depends on the chosen cost and benefit specifications and random interactions.

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File URL: http://economics.ryerson.ca/workingpapers/wp012.pdf
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Bibliographic Info

Paper provided by Ryerson University, Department of Economics in its series Working Papers with number 012.

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Length: 23 pages
Date of creation: Nov 2009
Date of revision:
Handle: RePEc:rye:wpaper:wp012

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Keywords: social institution; coordination games; agent based models;

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  1. Epstein, Joshua M, 2001. "Learning to Be Thoughtless: Social Norms and Individual Computation," Computational Economics, Society for Computational Economics, vol. 18(1), pages 9-24, August.
  2. Holland, John H & Miller, John H, 1991. "Artificial Adaptive Agents in Economic Theory," American Economic Review, American Economic Association, vol. 81(2), pages 365-71, May.
  3. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
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