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CEF.UP - WiP Seminar/Webinar

Tuesday - May 24th, 2022 at 1:00 p.m. | Room 305 | Online

“Pope Francis’ Economics of Fraternity: A Co-Evolutionary Analysis”

Fernando OliveiraCef.up and University of Auckland 


Abstract:

“Pope Francis has criticized the economy of exclusion created by capitalism. Based on a stylized pie-sharing game, the article proposes a co-evolutionary network model, using reinforcement learning, to analyze the interaction between social classes. This article aims to answer the following questions: Why do socioeconomic classes exist? When do they increase social efficiency and individual effectiveness? What is the role of social exclusion? From a methodological perspective, the model extends the pie-sharing game to include a network of interactions and classes, social mobility, and evolving wealth. The results show that flatter societies tend to lead to higher average individual effectiveness, however social inequality emerges even in round-table societies. In flatter societies, inequality decreases to the levels observed, at equilibrium, in round-table societies. In vertical societies, wealth inequality persists. Furthermore, the analysis extends the network model to include the possibility of individuals changing social class (i.e., to consider social mobility), studying how it affects individual effectiveness: it increases the perceived wealth differences between classes and, in the long run, supports the status quo. Finally, the article studies societies in which social mobility seldom occurs between the upper and lower classes are a Nash equilibrium, even in the long-term. This analysis is illustrated using the process of wealth accumulation and social exclusion in New Zealand.”

 

This is a hybrid Seminar, which may be attended either in person or online. The Seminar will take place in room 305. To attend, please submit the survey no later than Monday 23rd at 4:00 p.m. People wishing to attend online will receive the webinar link on the eve of the Seminar.



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“Cef.up is financed by Portuguese public funds through FCT - Fundação para a Ciência e Tecnologia, I.P., in the framework of the project with reference UIDB/04105/2020”

 

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