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Recognizing Investment Opportunities at the Onset of Recoveries

Fioretti, Guido - EconWPA - 2002

Investment decision-making is modeled by means of a Kohonen neural net, where neurons represent firms. This is done in order to model investments in novel fields of economic activity, that according to this model are carried out when firms recognize the emergence of a new technological pattern....

Persistent link: https://www.econbiz.de/10005076670

Neural correlates of the affect heuristic during brand choice

Plassmann, Hilke; Kenning, Peter; Deppe, Michael; … - EconWPA - 2005

In this working paper it is investigated how affect and cognition interact in consumer decision making. The research …

Persistent link: https://www.econbiz.de/10005125573

Evidence Theory: A Mathematical Framework for Unpredictable Hypotheses

Fioretti, Guido - EconWPA - 2002

Shafer's evidence theory is a branch of the mathematics of uncertain reasoning that allows for novel possibilities to be conceived by a decision-maker. Many of its findings exhibit striking similarities with an alternative decision theory purported by Shackle in the 1950s, before expected...

Persistent link: https://www.econbiz.de/10005125582

Ideologies, Beliefs, and Economic Advice - A Cognitive- Evolutionary View on Economic Policy-Making

Slembeck, Tilman - EconWPA - 2000

Economists often perceive the “ideological beliefs“ held by political actors as obstacles to rational policy-making. In contrast, it is argued that ideologies have characteristics that appear desirable in policy- making in that they allow political actors to credibly commit themselves to...

Persistent link: https://www.econbiz.de/10005556964

Knowledge and Structure

Fioretti, Guido - EconWPA - 2002

This article presents a formalization of knowledge based on a connectionist model of a firm's structure. Transaction costs are not ignored, but integrated with the knowledge-based approach. A numerical example on the canonical comparison of "Japanese" versus "American" organizational structures...

Persistent link: https://www.econbiz.de/10005561473

The intermingling between cognitive economics and experimental

Novarese, Marco; Rizzello, Salvatore - EconWPA - 2004

methodological issues. Then the attention is focused on the relevance of the experimental method for the analysis of learning and …

Persistent link: https://www.econbiz.de/10005076658

Genetic Action Trees A New Concept for Social and Economic Simulation

Pitz, Thomas; Chmura, Thorsten - EconWPA - 2005

which one can describe the learning behaviour of agents and the changes in action spaces. Using the extremely simplified …

Persistent link: https://www.econbiz.de/10005076915

Agent-Based Computational Economics

Tesfatsion, Leigh - EconWPA - 2002

Agent-based computational economics (ACE) is the computational study of economies modeled as evolving systems of autonomous interacting agents. Starting from initial conditions, specified by the modeler, the computational economy evolves over time as its constituent agents repeatedly interact...

Persistent link: https://www.econbiz.de/10005076916

A Study of Neo-Austrian Economics using an Artificial Stock Market

Benink, Harald A.; Gordillo, Jose Luis; Pardo, Juan Pablo; … - EconWPA - 2004

An agent-based artificial financial market (AFM) is used to study market efficiency and learning in the context of the … there are many coexisting signals. Learning is introduced by considering 'copycat' traders that learn the relative values of … the different strategies in the market and copy the most successful one. We show how such learning leads to a more …

Persistent link: https://www.econbiz.de/10005077021

Multi-Unit Auctions to Allocate Water Scarcity Simulating Bidding Behaviour with Agent Based Models

Hailu, Atakelty; Thoyer, Sophie - EconWPA - 2005

Multi-unit auctions are promising mechanisms for the reallocation of water. The main advantage of such auctions is to avoid the lumpy bid issue. However, there is great uncertainty about the best auction formats when multi-unit auctions are used. The theory can only supply the structural...

Persistent link: https://www.econbiz.de/10005124870