In this paper, the empirical performance of several preference functionals is assessed using individual and group experimental data. We investigate if there is a risky choice theory that fits group decisions better than alternative theories, and if there are significant differences between...

The creation of an innovation niche depends on the interaction of three mechanisms involving: converging expectations, networking among the innovation actors, and learning about the novelty through efficient knowledge creation and diffusion. Such mechanisms define the key characteristics of a...

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