We provide experimental evidence of Binmore and Samuelson's (1999) insights into modeling the learning process through which equilibrium is selected. They proposed the concept of drift to describe the effect of perturbations on the dynamic process leading to equilibrium in evolutionary games...

The theory of drift (Binmore and Samuelson 1999) concerns equilibrium selection in which second-order disturbances may have first-order effects in the emergence of one equilibrium over the other. We provided experimental evidence with human players supporting the model in Caminati, Innocenti and...

We analyze more than 1,250,000 bets on Italian soccer league matches. Our findings show that bettors do not improve their performance as the season progresses. We obtain evidence that early bettors, who place bets the days before the match, performed better then late bettors, who place bets on...

We evaluate the impact of timing on decision outcome, when both the timing and the relevant decision are chosen under uncertainty. Betting markets provide the testing ground, as we exploit an original dataset containing more than one million online bets on games of the Italian Major Soccer...

This paper suggests a knowledge based approach to the formation of collaboration networks in basic research. Though mainly focused on foundations, it provides the example of a knowledge distribution supporting pairwise equilibrium outcomes which correspond to a star-like collaboration network.

This paper exploits recent contributions to the notions of modularity and autocatalytic sets to identify the functional and structural units that define the strongest systematic and self-sustaining channels of knowledge transfer and accumulation within the network of knowledge flows between...

This paper contributes to the knowledge-incentive based explanation of R&D networks. It argues that knowledge overlap and novelty are complementary inputs of any R&D alliance, and the complementarity coefficients depend on the incremental or radical nature of the research activity. The relation...