En este trabajo se contrasta el concepto de agente programado con el de agente complejo adaptable, se presenta una nueva visión ligada al aprendizaje y la estructura del agente. La imagen del agente se analiza considerando los modelos internos, la práctica, el concepto de rutina y la...

It is common for a majority of people to rank themselves as better than average on simple tasks and worse than average on dificult tasks. The literature takes for granted that this apparent miscon?dence is problematic. We argue, however, that this behaviour is consistent with purely rational...

The massive investments made in information technology and communication development have been beneficial for all the world’s economies. All the economic and social processes now rely on computers as their support/intermediary. The technological miniaturization and steady performance increase...

Using a natural voting experiment in Switzerland that encompasses a 160-year period (1848–2009), we investigate whether a higher level of complexity leads to increased reliance on expert knowledge. We find that when more referenda are held on the same day, constituents are more likely to refer...

Using a natural voting experiment in Switzerland that encompasses a 160-year period (1848-2009), we investigate whether a higher level of complexity leads to increased reliance on expert knowledge. We find that when more referenda are held on the same day, constituents are more likely to refer...

Based on the well established result of probability matching, we explore in this paper to what extent soccer bettors adjust their behavior taking into account the new relevant information provided by the market. We test empirically the existence of a learning process using the Quiniela...

This article analyses information asymmetry in conceptual terms. It presents one characterization of the asymmetric information concept, described more by a socio-economic vision of it and its relationship with the digital economy. It also frames asymmetry of information as a public good versus...

Uncertainty about product quality is endemic in international trade. We develop a dynamic, two country model where home producers differ in terms of the quality of the products they sell. This quality is imperfectly observed by foreign consumers initially but known once the product is consumed....

Many disasters are foreshadowed by insuficient preventive care. In this paper, we argue that there is a true problem of prevention, in that insu¢ cient care is often the result of rational calculations on the part of agents. We identify two factors that lead to dubious e¤orts in care. First,...

This paper analyzes the dynamic properties of a standard New Keynesian monetary policy model when private agents expectations are assumed to be formed under a learning mechanism. As pointed out in the literature, learning with decreasing gain estimators tends to lead to convergence to the...