This paper models how imperfect memory affects the optimal continuity of policies. We examine the choices of a player (individual or firm) who observes previous actions but cannot remember the rationale for these actions. In a stable environment, the player optimally responds to memory loss with...

Discussion of how virtual, web-based interactions provide (1) a malformed context for human emotions, (2) a forum for publicizing of traditionally private workplace discussions, and (3) a source of information overload - potentially addressable through an evolutionary view. Subsequent discussion...

A group of P identical managers has to make a choice between N alternatives. They benefit from reaching the decision quickly. In order to learn which is the best option, the alternatives have to be compared. A manager is able to identify the better one of two alternatives only with a certain...

Labour productivity in the US has recently grown more strongly than in most European countries. It is often argued that the American productivity increase is due to the widespread introduction of new information and communication technologies (ICT). But why have the same technologies not...

This Paper provides a game theoretic extension of Radner's (1993) model of hierarchical information aggregation. It studies the role of the hierarchy design for the speed and quality of a collective decision process. The hierarchy is described as a programmed network of agents. The programme...

Working (organizational) group contains one or more individuals that interact regularly in order to achieve a common objective. The organisational group behaviour can react to some factors: using some power categories, using some efficient communication systems, developing the group creativity...

This paper analyzes organizational structures that minimize information processing costs for a specific organizational task. Organizations consist of agents of limited ability connected in a network. These agents collect and process information, and make decisions. Organizations implement...

Four years of EU membership has brought new opportunities and challenges for local companies and public administration in member countries. New small and medium companies (SMB) emerged in the neighboring regions cross over the former frontiers, there are new clusters using inter-regional...

Intellectual capital has become the leading resource for creating economic value and there are an important number of publications focused on this area of research. In spite of the interest for this area of research, the existence of different terms regarding intellectual capital makes the...

From the perspective of the Chicago school, there is no behaviour that is not interpretable as economic. In this paper, we discuss the assertion in the perspective of an optimal constitution and exploitation of Human Capital, through our conceptual framework named Emotional Capital (EC)....