1 citations · 1 across the 5 of their papers we have counts for
9 papers
Epidemics in modern economies
Torsten Heinrich
How are economies in a modern age impacted by epidemics? In what ways is economic life disrupted? How can pandemics be modeled? What can be done to mitigate and manage the danger?…
Best-response dynamics, playing sequences, and convergence to equilibrium in random games
Torsten Heinrich, Yoojin Jang, Luca Mungo +4
We analyze the performance of the best-response dynamic across all normal-form games using a random games approach. The playing sequence -- the order in which players update their…
Growth, development, and structural change at the firm-level: The example of the PR China
Torsten Heinrich, Jangho Yang, Shuanping Dai
Understanding the microeconomic details of technological catch-up processes offers great potential for informing both innovation economics and development policy. We study the econ…
The Frequency of Convergent Games under Best-Response Dynamics
Samuel C. Wiese, Torsten Heinrich
Generating payoff matrices of normal-form games at random, we calculate the frequency of games with a unique pure strategy Nash equilibrium in the ensemble of -player, -strat…
Levels of structural change: An analysis of China's development push 1998-2014
Torsten Heinrich, Jangho Yang, Shuanping Dai
We investigate structural change in the PR China during a period of particularly rapid growth 1998-2014. For this, we utilize sectoral data from the World Input-Output Database and…
Measuring productivity dispersion: a parametric approach using the Lévy alpha-stable distribution
Jangho Yang, Torsten Heinrich, Julian Winkler +3
It is well-known that value added per worker is extremely heterogeneous among firms, but relatively little has been done to characterize this heterogeneity more precisely. Here we…
A simulation of the insurance industry: The problem of risk model homogeneity
Torsten Heinrich, Juan Sabuco, J. Doyne Farmer
We develop an agent-based simulation of the catastrophe insurance and reinsurance industry and use it to study the problem of risk model homogeneity. The model simulates the balanc…
Best reply structure and equilibrium convergence in generic games
Marco Pangallo, Torsten Heinrich, J Doyne Farmer
Game theory is widely used as a behavioral model for strategic interactions in biology and social science. It is common practice to assume that players quickly converge to an equil…
Entropy, biological evolution and the psychological arrow of time
Torsten Heinrich, Benjamin Knopp, Heinrich Päs
We argue that in Universes where future and past differ only by the entropy content a psychological arrow of time pointing in the direction of entropy increase can arise from natur…