This paper studies the asset pricing implications of technology spillover, an important externality in innovation. While technology spillover enables firms to produce a variety of products that better satisfy their customers' love for variety, such benefits are procyclical, and investors...

Contributions from theoretical and empirical work were considered following a review of the literature concerning the economics of agglomeration, particularly those related to the causes of such economics. The pioneering work of G.Duranton and D. Puga (2003) and S. Rosenthal and W. Strange...

This paper provides a theoretical and empirical investigation of the impact of social learning on modern contraceptive prevalence. A theory is developed where own or neighbors' experience increases the benefit from using modern contraceptives by reducing the uncertainty regarding contraceptive...

This paper provides a theoretical and empirical investigation of the impact of social learning on modern contraceptive prevalence. A theory is developed where own or neighbors' experience increases the benefit from using modern contraceptives by reducing the uncertainty regarding contraceptive...

Purpose – The purpose of this paper is to investigate how universities' learning behavior (explorative or exploitative) and network structure (weak or strong inter-organizational ties) can affect their capability to collect and diffuse knowledge, and thus to act as knowledge...

Innovation success depends heavily on firm's ability to set priorities and select the most promising options from its project portfolio before the odds of success or failure become visible and reliable. We ask: What does previous innovation experience tell firms about what not to do in the...

We study perfect Bayesian equilibria of a sequential social learning model in which agents in a network learn about an underlying state by observing neighbors' choices. In contrast with prior work, we do not assume that the agents' sets of neighbors are mutually independent. We introduce a new...

We develop a model of information exchange through communication and investigate its implications for information aggregation in large societies. An \textit{underlying state} determines payoffs from different actions. Agents decide which others to form a costly \textit{communication link} with,...

Abstract: Change adaptability reflects intelligence and learning capacity. Mistakes are powerful in relation to teaching potency and learning efficacy, but they are not likely to be accepted by organizations. This has become a serious organizational problem. Is it possible to learn without...

In this paper I propose a novel abstract mechanism for the creation and diffusion of knowledge and use an agent based modelling approach to explore it. The mechanism takes into account the relation between the phenomena that agents attempt to explain and the stocks of knowledge available in a...