On the Structural Difference between the Evolutionary Approach of Young and that of Kandori, Mailath, and Rob

We provide robust examples of symmetric two-player coordination games in normal form that reveal that equilibrium selection by the evolutionary model of Young (1993) is essentially different from equilibrium selection by the evolutionary model of Kandori, Mailath and Rob (1993).

Interest rate restrictions in a natural experiment: loan allocation and the change in the usury laws in 1714

This article studies the effects of interest rate restrictions on loan allocation. The British governmenttightened the usury laws in 1714, reducing the maximum permissible interest rate from 6% to5%. A sample of individual loan transactions reveals that average loan size and minimum loan sizeincreased strongly, while access to credit worsened for those with little social capital. Collateralisedcredits, which had accounted for a declining share of total lending, returned to their former role ofprominence. Our results suggest that the usury laws distorted credit markets significantly; we findno evidence that they offered a form of Pareto-improving social insurance.

[Portrait de la reine Olga de Grèce (même type que Wc 218) non signé, 2 phot. de types grecs par Rubellin, phot. à Smyrne, le tout donné par P.P. Potagos en 1887]

Donateur : Potagos, Panagiotes (1839-1903)

On the structural difference between the evolutionary approach of Young and that of Kandori, Mailath and Rob

We provide robust examples of symmetric two-player coordination games in normal form that reveal that equilibrium selection bythe evolutionary model of Young (1993) is essentially different from equilibrium selection by the evolutionary model of Kandori, Mailath and Rob (1993).

« Déclaration faite par Mr DE VOLTAIRE, peu de temps avant sa mort, en février 1778, et extrait du Journal de M. Wagnière ».

« Remis au Département des manuscrits par M. Gossellin, le 19 octobre 1809. » — Au fol. 2 est la déclaration de Voltaire, reproduite en fac-similé en tête du tome III de Voltaire, Bibliographie de ses oeuvres, par G. Bengesco (Paris, 1889, in-8°) : « Je meurs en adorant Dieu, en aimant mes amis, en ne haïssant pas mes ennemis, en détestant la superstition. 1778, fév. Voltaire. »

Réponse au mémoire donné de la part du Roy de Sardaigne, à M. le marquis de Senectere ambassadeur de France à la Cour de Turin

Ancien possesseur : Argenson, Antoine-René de Voyer (1722-1787 ; marquis de Paulmy d')