This paper suggests that people can learn to behave in a way which makes them persistently unlucky or lucky. Learning from one's own experience, as it reinforces a few lucky or unlucky outcomes in early periods, will lead them to repeatedly make choices that lead to lucky or unlucky outcomes. In...

It has been argued in the economic literature that job search through informal job networks improves the employer-employee match quality. This paper argues that inventors' research collaboration networks reduce the uncertainty of firms about the match qualities of inventors prior to hiring. We...

Many scholars in the fields of organization theory and management strategy have argued that there is a tension between the two types of organizational learning activities, exploration and exploitation. They appear to be substitutes: the greater the skill at one, the harder it is to do the other...

This paper studies the formation of marriage relationships between two households in 19th century, Tama, Japan. Previous studies on marriage market or partner selection in the Japanese past tended to rely either on information from a single village in case of statistical analysis, or on...

In this paper, we provide an empirical analysis of evolving networks of successful R&D collaborations in the IT industry (consisting of firms that obtained patents in the technological category of computers and communication) in the U.S. between 1985 and 1995. We first show that the R&D network...

We investigate experimentally whether subjects can learn, from their limited experiences, about relationships between the distribution of votes in a group and associated voting powers in weighted majority voting systems (WMV). Subjects are asked to play two-stage games repeatedly. In the second...

Structural changes in an economy or in financial markets can arise as a result of agents adopting rules that appear to be the norm around them. Such rules are adopted by implicit consensus as they turn out to be profitable for individuals. However, as rules develop and spread they may have...

This short paper argues that rationally motivated coordination between agents is an important ingredient to understand the current economic crisis. We argue that changes in parameters that model the structure of a macro-economy or financial markets are not exogenous but arise as agents adopt...

This paper empirically examines whether and how experiencing climate-related disasters can improve the rural poorfs adaptation to climate change through community-based resource management. Original household survey data in Fiji capture the unique sequence of a tropical cyclone and the...

The effect of accepting more immigrants on welfare in the presence of a pay-as-you-go social security system is analyzed theoretically and quantitatively in this study. First, it is shown that if intergenerational government transfers initially exist from the young to the old, the government can...