We present an evolutionary model of technology diffusion in which an old and a new technology are available, both of which improve their performance incrementally over time. Technology adopters make repeated choices between the established and the new technology based on their perceived...

Organizations engage in search whenever they perform nonroutine tasks, such as the definition and validation of a new strategy, the acquisition of new capabilities, or new product development. Previous work on search and organizational hierarchy has discovered that a hierarchy with a central...

We present a novel methodology for identifying public knowledge and eliminating the biases it creates when aggregating information in small group settings. A two-stage mechanism consisting of an information market and a coordination game is used to reveal and adjust for individuals' public...

We present a dynamical model of web site growth in order to explore the effects of competition among web sites and to determine how they affect the nature of markets. We show that under general conditions, as the competition between sites increases, the model exhibits a sudden transition from a...

We present a study of information flow that takes into account the observation that an item relevant to one person is more likely to be of interest to individuals in the same social circle than those outside of it. This is due to the fact that the similarity of node attributes in social networks...

A distinguishing feature of the information era is the saliency of people's attention as a scarce resource. Unlike an earlier time when information was a valuable resource, its easy availability has shifted the focus to the limited bandwidth that people can devote to ubiquitous media and news....

Large distributed multiagent systems are characterized by vast numbers of agents trying to gain access to limited resources in an unpredictable environment. Agents in these system continuously switch strategies in order to opportunistically find improvements in their utilities. We have analyzed...

We present a two-level model of organizational training and agent production. Managers decide whether or not to train based on both the costs of training compared to the benefits and on their expectations and observations of the number of other firms that also train. Managers also take into...