We provide an experimental test of the traveler's dilemma using individual and group data. Our investigation aims to assess whether individual decisions differ significantly from group decisions. Experimental findings reported in this paper show that: (1) groups are always more rational – i.e....

The creation of an innovation niche depends on the interaction of three mechanisms involving: converging expectations, networking among the innovation actors, and learning about the novelty through efficient knowledge creation and diffusion. Such mechanisms define the key characteristics of a...

In this paper, the empirical performance of several preference functionals is assessed using individual and group experimental data. We investigate if there is a risky choice theory that fits group decisions better than alternative theories, and if there are significant differences between...

This paper aims to understand some of the mechanisms which dominate the phenomenon of knowledge diffusion in the process that is called ‘interactive learning’. We examine how knowledge spreads in a network in which agents have ‘face-to-face’ learning interactions. We...

This article aims at understanding the determinants of Italian small- and medium-sized enterprises' (SMEs) turnover growth having in mind the fact that the Italian economic system relies substantially on small firms which have traditionally managed to stay competitive by adopting strategies such...

This paper analyses the dynamics of return to knowledge where knowledge is acquired through the combination of interactive and individual learning. We suggest that in light of this new definition of knowledge, choosing the optimal level of education is no longer an individual exercise of present...

This paper provides an experimental test of the traveller’s dilemma. Our investigation aims to address the research hypothesis that introducing a reference point à la Schelling (set equal to the Pareto optimal solution) might drive people away from rationality even when the size of the...