2010-11-14

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2010-11-14

Title text: 2010-11-14

Votey

Explanation

This explanation is either missing or incomplete.

Transcript

This transcript was generated by a bot: The text was scraped using AWS's Textract, which may have errors. Complete transcripts describe what happens in each panel — here are some good examples to get you started (1) (2).

[Describe panel here]

Maybe I'm just a naive undergrad, but you know what none of you "genius" economists account for in your equations: ?! The fact that you're fucking over the poor!

Iecon

My god. He's right.

All these years how could we

No, wait. Here itis. Page 862

From eq. (11.2) it is clear that dp/di - ry 0 which quires

A(p-k)

(b,(p)-b.(p)

(11.3)

1-).

or if p is either 0 or 1 (because when P - 1.78 - y). When eq. (11.3)is satisfied, P is stationary because the effects of conformist transmission (the left hand side of eq. (11.3)) just offset the effects of differential payoffs (the right-hand side). Thus, in the presence of conformist trans-mission, and for p e (0,1), the equilibrium payoffs to the norm favored by conformism will always be less than the payoffs of the more preva lent norm. Figure 11.1 illustrates such an equilibrium. For p (0,1), dp/dr takes the sign of An equilibrium

is asymptotically stable (self if the derivative of cq. 11.2) with respect to p is negative, requiring that

db,

db,

A (foip)

(11.4a)

dp dp

A

(11.4b)

Caption: which is satisfied if the conformist advantage conferred on x by a small increase in p. namely NII A), is more than offset by the payoff ad-conferred on y by the same increase in p (the right-hand side). figure 11.1. p represents the solution to eq. (11.3) satisfying eq. 11.4a) and is hence a stable equilibrium distribution of norms. From eqs. (11.3) and (11.4a) we see that conformism has two effects.

Votey Transcript

This transcript was generated by a bot: The text was scraped using AWS's Textract, which may have errors. Complete transcripts describe what happens in each panel — here are some good examples to get you started (1) (2).

[Describe panel here]

What a horrible 3 seconds

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