This paper analyzes the world web of mergers and acquisitions (M&As) using a complex network approach. We use data of M&As to build a temporal sequence of binary and weighted-directed networks, for the period 1995-2010 and 224 countries. We study different geographical and temporal aspects of...

In the last years, there has been a growing interest in studying the global food system as a complex evolving network. Much of the literature has been focusing on the way countries are interconnected in the food system through international-trade linkages, and what consequences this may have in...

Understanding specialization patterns of countries in food production can provide relevant insights for the evaluation and design of policies seeking to achieve food security and sustainability, which are key to reach several Sustainable Development Goals (SDGs). In this paper, we use production...

We propose a new methodology to assess the degree of persistence in firm growth, based on Conditional Quantile Transition Probability Matrices (CQTPMs) and well-known indexes of intra-distributional mobility. Improving upon previous studies, the method allows for exact statistical inference...

This paper studies market selection in an Arrow-Debreu economy with complete markets where agents learn over misspecified models. Under model misspecification, standard Bayesian learning loses its formal justification and biased learning processes may provide a selection advantage. However,...

We investigate the emergence of momentum and reversal anomalies in a general equilibrium model with complete markets and cognitively biased agents, accounting for the presence of representativeness heuristic, conservatism, and anchoring and adjusting in their beliefs. We characterize anomalies...

This paper aims to investigate the effect of knowledge characteristics on the total factor productivity of firms developing drugs in the pharmaceutical industry. We decompose knowledge into knowledge associated with the technological firm portfolio and knowledge related to R&D projects, which...

Analyzing a comprehensive database of limited liability manufacturing firms this paper investigates the relation between a firm's financial situation and its conditional expected growth rate. Specifically, using quantile regressions, we obtain a quantitative characterization of this relation for...

We consider a simple pure exchange economy with two assets, one riskless, yielding a constant return, and one risky, paying a stochastic dividend, and we assume trading to take place in discrete time inside an endogenous price formation setting. Traders demand for the risky asset is expressed as...

We present a simple agent based model aimed at the qualitative description of trading activity in a stylized financial market. A two assets economy is considered, with a bond providing a riskless constant return and a risky stock, paying constant dividends, whose price is fixed via Walrasian...