The Conflict Analysis approach by Hipel and Fraser (1984) is well equipped to model repeated games. Players are assumed to posses a sequential reasoning that allows them to ( not necessarily correctly) anticipate the reaction of other players to their strategies. An individual’s best response...

This paper presents the results of an experiment on mutual versus common knowl- edge of advice in a two-player weak-link game with random matching. Our experimen- tal subjects play in pairs for thirteen rounds. After a brief learning phase common to all treatments, we vary the knowledge levels...

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 consider a simple pure exchange economy with two assets, one riskless, yielding a constant return on investment, and one risky, paying a stochastic dividend. Trading takes place in discrete time and in each trading period the price of the risky asset is fixed by imposing market clearing...

This work offers an overview of recent formalizations of organizational capabilities and learning. We first present the main characteristics both of NK models and of the approach based on Classifier Systems, focusing on their early applications to organization studies. We then discuss how the...

This work, which shall contribute to the Fest "A Just Society: Honouring Joseph Stiglitz", discusses a major unifying theme in Joe Stiglitz monumental work, namely, the analysis of economies characterised by persistent learning and coordination hurdles. In his analysis Joe is in many respects a...

This paper is one of the first attempts at empirically identifying organisational capabilities - in this work concerning Italian firms. Together, it proposes new evidence on the link between capabilities and economic performances. In order to do so, we employ the Indagine Multiscopo del...

This paper is meant to address the status of the Italian productive system in the wake of the most severe crisis economies are facing since WWII. In order to accomplish the latter task we rely on the combination of two high quality level dataset informing about so called firm behavioural traits:...

We consider a market economy where two rational agents are able to learn the distribution of future events. In this context, we study whether moving away from the standard Bayesian belief updating, in the sense of under-reaction to some degree to new information, may be strategically convenient...

Economic growth tends to stimulate fundamental changes in consumption patterns as consumers who get rich tend to spread their spending more evenly across a wider variety of goods and services. Comparing cross sectional spending patterns across rich and poor countries, we investigate how this...