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Rationalizability and Interactivity in Evolutionary OLG Models

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  • Grégory Ponthière

    (PSE - Paris-Jourdan Sciences Economiques - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

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 tness ordering (i.e. only the most fit types survive) and interactivity (i.e. a withdrawal of types a effects 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-types versions 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 tness ordering, the opposite is true for the latter, which exhibits, in general, interactivity.

Suggested Citation

  • Grégory Ponthière, 2013. "Rationalizability and Interactivity in Evolutionary OLG Models," PSE Working Papers hal-00814699, HAL.
    • Handle: RePEc:hal:psewpa:hal-00814699
    Note: View the original document on HAL open archive server: https://pjse.hal.science/hal-00814699v1
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    References listed on IDEAS

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    1. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66(6), pages 467-467.
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    4. Oded Galor & Omer Moav, 2002. "Natural Selection and the Origin of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(4), pages 1133-1191.
    5. Alberto Bisin & Thierry Verdier, 2000. ""Beyond the Melting Pot": Cultural Transmission, Marriage, and the Evolution of Ethnic and Religious Traits," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 115(3), pages 955-988.
    6. Olivier, Jacques & Thoenig, Mathias & Verdier, Thierry, 2008. "Globalization and the dynamics of cultural identity," Journal of International Economics, Elsevier, vol. 76(2), pages 356-370, December.
    7. Oded Galor & Omer Moav, 2004. "Natural Selection and the Evolution of Life Expectancy," GE, Growth, Math methods 0409004, University Library of Munich, Germany.
    8. Alberto Bisin & Giorgio Topa & Thierry Verdier, 2004. "Religious Intermarriage and Socialization in the United States," Journal of Political Economy, University of Chicago Press, vol. 112(3), pages 615-664, June.
    9. Bisin, Alberto & Verdier, Thierry, 2001. "The Economics of Cultural Transmission and the Dynamics of Preferences," Journal of Economic Theory, Elsevier, vol. 97(2), pages 298-319, April.
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    Cited by:

    1. Orlando Gomes, 2022. "Human capital and growth in an OLG-life cycle model," SN Business & Economics, Springer, vol. 2(1), pages 1-26, January.

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    Keywords

    Evolutionary OLG models; Survival; Extinction; Fitness or- dering; Rationalization;
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