To maximise the possibility of success for a new product and minimise the risk and opportunity cost of a failed product, firms must understand the diffusion dynamics of competing products. The diffusion dynamics of competing products emerge from the aggregation of consumers' decisions. At the...

In this paper, an agent-based search model of the labor market with heterogeneous agents and an on-the-job search is developed, i.e. the long-term unemployed and other job seekers compete for vacancies which differ in skills demands and in the sector of the economy. Job placement agencies help...

In this paper, we build a new test of rational expectations based on the marginal distributions of realizations and subjective beliefs. This test is widely applicable, including in the common situation where realizations and beliefs are observed in two different datasets that cannot be matched....