Recent literature shows that learning in oligopoly games might in the long run result in the Cournot or in the Walras equilibrium. Which outcome is achieved seems to depend on the underlying learning dynamics. This paper analyzes the forces behind the learning mechanisms determining the long run...

Since 1973 currency market has been dominated by US-Dollar cycles, the so called long swings. The long swinging behaviour of the dollar has been confirmed also by its strong depreciation against the Euro, registered in the last three years. Periods of steady appreciation followed by period of...

Peer-to-peer technology has made massive music piracy possible, which, in turn, has arguably had a significant economic impact on the recording industry. Record labels have responded to online piracy with litigation and are also considering self-help measures. It is currently not obvious whether...

The growth of unsolicited commercial email imposes increasing costs on organizations and causes considerable aggravation on the part of email recipients. A thriving anti-spam industry addresses some of the frustration. Regulation and various economic and technical means are in the works –...

We propose an agent-based model to investigate the effects of policies against poverty – income support, workfare policies and active labor market programs within different economic and institutional setting