This paper analyzes the effect of the availability of information about the payoff structure on the behavior of players … in a Common-Pool Resource game. Six groups of six individuals played a complete information game, while other six groups … played the same game but with no information about the payoff function. It will be shown that the patterns of investment …

theory of melioration is to exclusively play A, while the Nash equilibrium is to almost exclusively play B. The predictive … learning processes exhibited by players. …

We propose a model of learning when experimentation is possible, but unawareness and ambiguity matter. In this model …, complete lack of information regarding the underlying data generating process is expressed as a (maximal) family of priors …. These priors yield posterior inferences that become more precise as more information becomes available. As information …

In this paper I propose a novel abstract mechanism for the creation and diffusion of knowledge and use an agent based … explain and the stocks of knowledge available in a society, be it individually or collectively. I find that the aggregate … number of knowledge units in a society increases more slowly, the more naive its inhabitants are. I also find that the …

rationality behaviour by people. Quite recent developments in the Economics of Knowledge, i.e. the so-called learning models, have …, has always considered sets of individuals with assumed characteristics, namely the level of knowledge, although in an … individuals, was characterised by a certain level of knowledge that, indeed, could be associated with the one of its …

The purpose of this paper is to discuss the importance of knowledge, both tacit and codified, in the formation of the … takes the post-Keynesian theory as reference, associating it with the neo-Schumpeterian analysis of innovation dynamics …. First, it is argued that knowledge plays a crucial role in building agents' confidence, emphasizing that radical innovations …

Spirits ; Bounded Rationality ; Discrete Choice Theory ; Euro Area ; New-Keynesian Model ; Simulated Method of Moments …