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Rationalizability and interactivity in evolutionary OLG models

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  • Ponthiere, Gregory

Abstract

We use the theory of rationalizable choices to study the survival and the extinction of types (or traits) in evolutionary OLG models. Two properties of evolutionary processes are introduced: rationalizability by a fitness ordering (i.e. only the most fit types survive) and interactivity (i.e. a withdrawal of types affects the survival of other types). Those properties are shown to be logically incompatible. We then examine whether the evolutionary processes at work in canonical evolutionary OLG models satisfy rationalizability or interactivity. We study n-type version of the evolutionary OLG models of Galor and Moav (2002) and Bisin and Verdier (2001), and show that, while the evolutionary process at work in the former is generally rationalizable by a fitness ordering, the opposite is true for the latter, which exhibits, in general, interactivity.

Suggested Citation

  • Ponthiere, Gregory, 2013. "Rationalizability and interactivity in evolutionary OLG models," Mathematical Social Sciences, Elsevier, vol. 66(2), pages 105-116.
  • Handle: RePEc:eee:matsoc:v:66:y:2013:i:2:p:105-116
    DOI: 10.1016/j.mathsocsci.2013.04.004
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    1. Alberto Bisin & Giorgio Topa & Thierry Verdier, 2009. "Cultural transmission, socialization and the population dynamics of multiple‐trait distributions," International Journal of Economic Theory, The International Society for Economic Theory, vol. 5(1), pages 139-154, March.
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