Showing 1 - 10 of 31
Persistent link: https://www.econbiz.de/10001691457
In the last years, many contributions have been exploring population learning in economies where myopic agents play bilateral games and are allowed to repeatedly choose their pure strategies in the game and, possibly, their opponents in the game. These models explore bilateral stage-games...
Persistent link: https://www.econbiz.de/10002133011
The purpose of this work is to present a sort of short selective guide to an enormous and diverse literature on learning processes in economics. We argue that learning is an ubiquitous characteristic of most economic and social systems but it acquires even greater importance in explicitly...
Persistent link: https://www.econbiz.de/10002133492
The capability-based view of the firm is based on the assumption that firms know how to do things. Assuming the existence of a thing called `organizational knowledge', in the first part of the paper we identify its main building blocks and we provide a description of its inner structure. This...
Persistent link: https://www.econbiz.de/10002133792
This paper builds upon a view of economic system and individual economic organization as problem-solving arrangements and presents a simple model of adaptive problem-solving driven by trial-and-error and collective selection. The institutional structure, and in particular its degree of...
Persistent link: https://www.econbiz.de/10002133851
Persistent link: https://www.econbiz.de/10002134049
In this work we analyze the characteristics and dynamics of organizations wherein members diverge in terms of capabilities and visions they hold, and interests which they pursue. How does society put together such distributed and possibly coflicting knowledge? The question is "Hayekian" in its...
Persistent link: https://www.econbiz.de/10009766346
The paper presents a new framework to assess firm level heterogeneity and to study the rate and direction of technical change. Building on the analysis of revealed short-run production functions by Hildenbrand (1981), we propose the (normalized) volume of the zonotope composed by vectors-firms...
Persistent link: https://www.econbiz.de/10010202776
In this paper we develop on a geometric model of social choice among bundles of interdependent elements (objects). Social choice can be seen as a process of search for optima in a complex multi-dimensional space and objects determine a decomposition of such a space into subspaces. We present a...
Persistent link: https://www.econbiz.de/10010202789
In this work we present a number of urn models in which, contrary to standard Polya urns, the number of competing alternatives is not given from the outset but may increase with the arrival of innovations. We begin by describing a variant of Polya urns, first introduced by Fred Hoppe, in which...
Persistent link: https://www.econbiz.de/10010244575