In a model of incomplete, heterogeneous information, with externalities and strategic interactions, we analyze the possibility for learning to act as coordination device. We build on the framework proposed by Angeletos and Pavan (2007) and extend it to a dynamic multiperiod setting where agents...

This paper approaches the problem of knowledge accumulation by the management team of organizations, but specially that ones focused on obtaining profit in order to obtain competitive advantage. After a brief presentation of the general context, the idea of continuing learning as investment is...

Extant literature indicates that technology, and by implication its underlying knowledge base, determines long-run economic performance. Absent from the literature with respect to developing countries are quantitative assessments of the nexus between technology as knowledge and economic...

The present paper proposes a new way of thinking regarding the relation between innovation and knowledge using a Physics-borrowed model, trying to prove whether knowledge resources can „flow” (be percolated) in a network or a grid, in order to be transformed in technological innovation. In...

We introduce a computer program which calculates an agent’s optimal behavior according to Case-based Decision Theory (Gilboa and Schmeidler, 1995) and use it to test CBDT against a benchmark set of problems from the psychological literature on human classification learning (Shepard et al.,...

Using data from a randomized experiment in rural China, this paper studies the influence of social networks on weather insurance adoption and the mechanisms through which social networks operate. To quantify network effects, the experiment offers intensive information sessions about the...

In this paper we investigate how cognitive ability influences behavior, success and the evolution of play towards Nash equilibrium in repeated strategic interactions. We study behavior in a p-beauty contest experiment and find striking differences according to cognitive ability: more cognitively...

We develop a framework that allows us to reproduce the generalised agreement theorem of Samet (2010), and extend it to models with a non-partitional information structure, while highlighting the features that distinguish the result from the classic theorems found in the literature. Furthermore,...

We develop a framework that allows us to emulate standard results from the “agreeing to disagree" literature with generalised decision functions (e.g. Bacharach (1985)) in a manner the avoids known incoherences pointed out by Moses and Nachum (1990). We analyse the implications of the...

Information, the third manifestation form of Fundamental Existence, has become the most valuable treasure of mankind. The Japanese once said that the happy masters of information in early 21st century are going to be the masters of the world, too. The sign of power is not going to be rendered by...