This paper questions the dynamic stability of supplier-buyer networks. We investigate a simple rewiring process, by which firms change suppliers if it increases profit, within an otherwise classical production network model with market clearing, profit-maximization, and complete information. We...

Aim: To present a condensed but inclusive discussion of the nature of the complex global system and the impediments to, but also the advantages of, means of prediction and action in a rapidly declining society to offer a compendium of the potential to assess the difficulty of predicting complex...

We conduct an incentivized experiment on a nationally representative US sample (N=708) to test whether people prefer to avoid ambiguity even when it means choosing dominated options. In contrast to the literature, we find that 55% of subjects prefer a risky act to an ambiguous act that always...