Colabora: Universitat Pompeu Fabra. Departament d'Economia i Empresa
Autor/es:
Antoni Bosch-Domènech; María Sáez;
Resumen :
We test in the laboratory the potential of evolutionary dynamics as predictor of actual behavior. To this end, we propose an asymmetric game -which we interpret as a borrowerlender relation-, study its evolutionary dynamics in a random matching set-up, and tests its predictions. The model provides conditions for the existence of credit markets and credit cycles. The theoretical predictions seem to be good approximations of the experimental results.
