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Chapter 16 Agent-Based Computational Economics: A Constructive Approach to Economic Theory
Tesfatsion, Leigh - In: Handbook of computational economics : volume 2, …, (pp. 831-880). 2006
Economies are complicated systems encompassing micro behaviors, interaction patterns, and global regularities. Whether partial or general in scope, studies of economic systems must consider how to handle difficult real-world aspects such as asymmetric information, imperfect competition,...
Persistent link: https://www.econbiz.de/10014024389
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Do Traders Learn to Select Efficient Market Institutions?
Alós-Ferrer, Carlos - 2020
When alternative market institutions are available, traders have to decide both where and how much to trade. We … returns to scale, both institutions remain active and coordination is slower. The reason is that, in a finite-horizon setting … predictions (market clearing) within each institution, but switching behavior across institutions is explained by simple rules of …
Persistent link: https://www.econbiz.de/10012823270
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Do traders learn to select efficient market institutions?
Alós-Ferrer, Carlos; Buckenmaier, Johannes; … - 2020
When alternative market institutions are available, traders have to decide both where and how much to trade. We … returns to scale, both institutions remain active and coordination is slower. The reason is that, in a finite-horizon setting … predictions (market clearing) within each institution, but switching behavior across institutions is explained by simple rules of …
Persistent link: https://www.econbiz.de/10012292129
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From status-seeking consumption to social norms : an application to the consumption of cleanliness
Woersdorfer, Julia Sophie - 2008
Interdependencies in consumer behavior stem from either status-seeking consumption or compliance with social norms. This paper analyzes how a consumption act changes from a means to signal the consumer's status to a means of norm compliance. It is shown that such a transformation can only be...
Persistent link: https://www.econbiz.de/10003875550
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Learning while setting precedents
Chen, Ying; Eraslan, Hülya - 2020
A decision maker makes a ruling on a random case in each period. She is uncertain about the correct ruling until conducting a costly investigation. A ruling establishes a precedent, which cannot be violated under binding precedent. We compare the information acquisition incentives, the evolution...
Persistent link: https://www.econbiz.de/10012241003
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Learning while setting precedents
Chen, Ying; Eraslan, Hülya - 2018
acquire information, the evolution of standards and the social welfare under two institutions: nonbinding precedent and …
Persistent link: https://www.econbiz.de/10011824214
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Uncertainty in global sourcing : learning, sequential offshoring, and selection patterns
Larch, Mario; Navarro, Leandro - 2022
We analyse firms' sourcing decisions under institutional uncertainty in foreign countries. Firms can reduce their uncertainty by observing offshoring firms' behaviour. The model characterises a sequential offshoring equilibrium path, led by the most productive firms in the market. With multiple...
Persistent link: https://www.econbiz.de/10013419347
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Understanding the process of knowledge accumulation and entrepreneurial learning in startups
Khurana, Indu - In: Industry and innovation 28 (2021) 9, pp. 1129-1149
Persistent link: https://www.econbiz.de/10012653577
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La rilevanza di Adam Smith per la teoria contemporanea del progresso tecnico
De Liso, Nicola - 1994
Persistent link: https://www.econbiz.de/10000925388
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Information acquisition, signaling and learning in duopoly
Jeitschko, Thomas D.; Liu, Ting; Wang, Tao - 2016
We study firms' incentives to acquire private information in a setting where subsequent competition leads to firms' later signaling their private information to rivals. Due to signaling, equilibrium prices are distorted, and so while firms benefit from obtaining more precise private information,...
Persistent link: https://www.econbiz.de/10011548620