The dynamics of individual characteristics of economic agents is modeled with the link structure influenced by this dynamics: links between agents with similar characteristics are more stable than those between agents with vastly different characteristics. A simple scaling law describes the...

We empirically investigate distributions of individual consumption expenditure f or four commodity categories conditional on fixed income levels. The data stems from the Family Expenditure Survey carried out annually in the United Kingdom. W e use graphical techniques to test for normality and...

This paper proposes a percolation-based model of new-product diffusion in the spirit of Solomon et al. (2000) and Goldenberg et al. (2000). A consumer buys the new product if she has formed her individual valuation of the product (reservation price) and if this valuation is greater or equal than...

A model of new-product diffusion is proposed in which a site-percolation dynamics represents socially driven diffusion of knowledge about the product's characteristics in a population of consumers. A consumer buys the new product if her valuation of it—formed after her witnessing the product...

We propose a stochastic model of interactive formation of individual expectations regarding the business climate in an industry. Our model is motivated by a business climate survey conducted since 1960 in Germany by the Ifo-institute (www.ifo.de). In accordance with the data structure of this...

We investigated in the laboratory whether gender differences in decisions made under uncertainty without information on decisions of equally informed others are robust to the availability of that information. Participants specified in each of at most 60 periods four capital volumes making up the...

The paper deals with two particular investment decisions: optimizing the investment date and opitmizing a single identical replacement. The objective is to maximize the net present value. For the common and convenient assumption of a flat term structure of inetrest rates, two results are known....