Conventions can be narrowly interpreted as coordinated ways of equilibrium play, i.e., a specific convention tells all players in a game with multiple strict equilibria which equilibrium to play. In our view, coordination often takes place before learning about the games. Thus, one has to...

Which inequalities among individuals are considered unjust? This paper reports the results of an experiment designed to study distributive choices dealing with arbitrarily unequal initial endowments. In a three-person distribution problem where subjects either know or do not know their...

This paper aims to analize the role of personal identity in decision making. To this end, it starts by reviewing critically the growing literature on economics and identity. Considering the ambiguities that the concept of social identity poses, our proposal focuses on the concept of personal...

In an experimental setting, firms in a duopoly market engage in a patent tournament and compete for profit-enhancing product advancements. The firms generate income by matching exogenously defined demand preferences with an appropriately composed product portfolio of their own. Demand...

This paper examines the relationship between business dynamics and employment effects in 320 U.S. Metropolitan Statistical Areas (MSA). Much of the theoretical work on industry dynamics focuses on the role of noisy selection and incomplete information on entry and survival. We extend this...

The process of the entrepreneurial decision is decomposed in seven engagement levels ranging from “never thought about starting a business†to “gave upâ€, “thinking about itâ€, “taking steps for starting upâ€, “having a young businessâ€,...