Existing models of R&D are not easily reconciled with four observable aspects of R&D: initial technologies (ideas) need to be developed further, only a minority of initial ideas are successfully brought to the market, production and process innovations take place simultaneously (whereby,...

The rational expectations hypothesis is one of the cornerstones of current economic theorizing. This review discusses a number of experiments that focus on expectation formation by human subjects in a number of learning-to-forecast experiments and analyzes the implications for the rational...

Outcomes of the shallow lake long-term interest conflict in a number of different settings are presented, in particular in the contexts of quasi-static and dynamic social planning and of quasi-static non-cooperative play. Also the effect of trigger strategies in repeated quasi-static play is...