"Modern economies are described as 'knowledge based'. This book investigates the meaning of such a statement, assessing the relevance of knowledge and the channels through which knowledge is exchanged, both from a theoretical and an empirical perspective." "Moving within the realm of complexity...

The aim of this paper is to analyze bidder's behavior, comparing individuals and groups' decisions within the dollar auction framework. This game induces subjects to fall prey into the paradigm of escalation, which is driven by agents' commitment to higher and higher bids. Whenever each...