Two agents endowed with different individual conceptual spaces are engaged in a dialectic process to reach a common understanding. We model the process as a simple noncooperative game and demonstrate three results. When the initial disagreement is focused, the bargaining process has a zero-sum...

This paper revisits a recent study by Posen and Levinthal (2012) on the exploration/exploitation tradeoff for a multi-armed bandit problem, where the reward probabilities undergo random shocks. We show that their analysis suffers two shortcomings: it assumes that learning is based on stale...

The "hard-easy effect" is a well-known cognitive bias on self-confidence calibration that refers to a tendency to overestimate the probability of success in hard-perceived tasks, and to underestimate it in easy-perceived tasks. This paper provides a target-based foundation for this effect, and...

We study a model of team problem-solving over a large solution space. Compared to the existing literature, we allow for heterogeneity both in the organizational architectures and in the agents' cognitive abilities; moreover, we introduce a more expressive performance measure. We find a robust...

We study the probability that two or more agents can attain common knowledge of nontrivial events when the size of the state space grows large. We adopt the standard epistemic model where the knowledge of an agent is represented by a partition of the state space. Each agent is endowed with a...

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This paper explores the implications of participatory budget (PB), inspired by insights and reflections on public governance, accountability, participation and inclusion of citizens in the local authority expenditure decisions. Nevertheless a certain criticism is coming from the literature about...

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We analyze product and marketing actions and their consequences on firm competitive outcomes. These actions are investigates in relative terms compared to a firmÕs direct competitors. Our results shed new light on how a firmÕs choices regarding product portfolio and marketing postures affect...