We report experimental results from three Colombian villages concerning the impact of a voting mechanism on interpersonal trust and trustworthiness. The vote is purely consultative in that participants are asked to declare in a secret ballot the most “appropriate” plan of action for...

The article discusses whether and to what extent experiments can contribute to a research paradigm based on the study of human behaviour in complex evolving environments and on the problem of asymmetric adjustment among different components of economic system along certain trajectories, focusing...

In this article, we study a three-person gift exchange, where two workers compete for a bonus. We derive the equilibrium properties of the models of sequential reciprocity and inequity aversion. We then prove a comparative statics theorem, when one worker becomes more productive. We show that...

In this article, we show the evolution of inequality for the largest economies of the Latin American region in the 21st century, with separate consideration of income and wealth. We analyse the drivers of the changes in inequality and possible underlying causes, including the role of the new...

In this article we discuss the dynamics of organizational change when agents have heterogeneous initial conjectures and do learn. In this framework, conjectural equilibrium is defined as a steady state of the learning process, and all the adjustment occurs in disequilibrium. We discuss the...

In this paper we provide a generalization of the standard models of the diffusion of a new product. Consumers are heterogeneous and risk averse, and the firm is uncertain about the demand curve: both learn from past observations. The attitude towards risk has important effects with regard to the...

In this article we use the unification of Germany in the 1990 to test the hypothesis that the increase of the supply of a production factor generates skill biased technical change. We test for this mechanism in the context of the Acemoglu and Autor (2011) model that allows for endogenous...

This article shows - on both conceptual and empirical grounds - the importance of business cycles in affecting key relationships between innovation and international performance. While periods of upswing are characterised by a well documented 'virtuous circle'. between innovation inputs, new...

The diversity of technological activities that contribute to growth in labour productivity is examined in this paper for manufacturing and services industries in eight major EU countries. We test the relevance of the two major strategies of technological competitiveness (based on innovation in...

In this study we use a unique database covering 25 manufacturing and service sectors for 15 European countries over the period 1996-2005, for a total of 2,295 observations, and apply GMM-SYS panel estimations of a demand-for-labour equation augmented with technology. We find that R&D...