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PARADIGM SHIFT: A MEAN FIELD GAME APPROACH
Author(s) -
Besancenot Damien,
Dogguy Habib
Publication year - 2015
Publication title -
bulletin of economic research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.227
H-Index - 29
eISSN - 1467-8586
pISSN - 0307-3378
DOI - 10.1111/boer.12024
Subject(s) - paradigm shift , competition (biology) , economics , field (mathematics) , mathematical economics , simple (philosophy) , game theory , state (computer science) , scientific revolution , dynamics (music) , neoclassical economics , computer science , sociology , mathematics , epistemology , philosophy , pure mathematics , ecology , pedagogy , algorithm , biology
ABSTRACT This paper analyses the consequences of young researchers' scientific choice on the dynamics of sciences. We develop a simple two state mean field game model to analyse the competition between two paradigms based on Kuhn's theory of scientific revolution. The dynamics of the model are driven by the scientific choice of young researchers at the beginning of their career. Despite the possibility of multiple equilibria, the model exhibits at least one stable solution in which both para digms coexist. The occurrence of shocks on the parameters may induce the shift from one paradigm to the other. During this shift, researchers' choice is proved to be having a great impact on the evolution of sciences.