This paper introduces epsilon-stability as a generalization of the concept of stochastic stability in learning and evolutionary game dynamics. An outcome of a model of stochastic evolutionary dynamics is said to be epsilon-stable in the long-run if for a given model of mistakes it maximizes its...

Learning and stochastic evolutionary models provide a useful framework for analyzing repeated interactions and experimentation among economic agents over time. They also provide sharp predictions about equilibrium selection when multiplicity exists. This paper defines three convergence measures,...

We study the convergence properties of learning in social and economic networks. We characterize the effect of network structure on the long-run convergent behaviour and on the time of convergence to steady state. Agents play a repeated game governed by two underlying behavioural rules; they are...

Global climate change mitigation will require the development and diffusion of a large number and variety of new technologies. How will patent protection affect this process? In this paper we first review the evidence on the role of patents for innovation and international technology transfer in...

Environmental innovation is an essential part of a knowledge based economy, as environmental innovation makes economies more efficient by encouraging and facilitating the use of fewer material or energy inputs per unit of output. In this respect, environmental innovation replaces material inputs...

There are two assumptions regarding regulatory instruments under the globalizing economy. These are: (1) increasing role of private standards in shaping the economic activities of developing countries; and (2) diminishing role of national institutions in "open" and "liberal" markets. In other...

This paper demonstrates that radical regulatory changes can be tantamount to technological revolutions by studying Indian pharmaceutical firms. It shows that radical regulatory changes such as the Indian Patent Act of 1970, the New Industrial Policy of 1991 and the signing of TRIPS (Trade...

This paper looks at the special characteristics of radical inventions. It tries to identify those variables that differentiate radical inventions from non-radical inventions. Since radical inventions are very important for the economy as a whole and for the individual firm performances,...

Although the literature converges regarding the reasons why and how networks of technology alliances are formed, there is still lack of agreement on what constitutes an optimal network structure, once it has been formed. The aim of this paper is to fill this void and to determine what...

We examine how and to what extent the propensity to be engaged in alliances with different partner types (suppliers, customers and competitors) depends on prior alliance engagement with partner firms of the same type (persistence) and prior engagement in alliances with the other partner types...