Economists often ask how private information is shared through markets, costly signaling, and other mechanisms. Yet most information sharing is done through ordinary, informal talk. Economists are inconsistent in their view of such 'cheap talk': sometimes it is supposed that communication...

We study the implementation of constrained-efficient allocations in labour markets where a basic coordination problem leads to an equilibrium matching function. We argue that these allocations can be achieved in equilibrium if wages are determined by ex post bidding. This holds true even in...

Evolutionary modellers have recently taken an interest in the use of computer simulations based on genetic algorithms; this paper offers two contributions to this literature. In the initial sections we aim to place the GA into a general review of evolutionary dynamics, including Fisher's...

We consider an oligopolistic market game, in which the players are competing firms in the same market of a homogeneous consumption good. The consumer side is represented by a fixed demand function. The firms decide how much to produce of a perishable consumption good, and they decide upon a...

In this paper we study a stochastic learning model for 2, 2 normal form games that are played repeatedly. The main emphasis is put on the emergence of cycles. We assume that the players have neither information about the payoff matrix of their opponent nor about their own. At every round each...

We analyze the co-evolution of the performances of firms and of the economy in an evolutionary micro-to-macro model of the Swedish economy. The model emphasizes the interactions between human capital (or competences) and technological change at the firm level and their effects on aggregate...

We tackle three components of evolutionary modelling: payoffs, dynamical systems and equilibrium concepts. Firstly, we merely require that fitness functions are continuous. Secondly, we examine very general classes of dynamics. Thirdly, we give useful parallels to the Nash equilibrium and the...

We study a class of forward looking economic models with heterogeneous agents in a bounded rationality setting. The agents employ the same recursive learning rule to update beliefs but are characterized by different memory parameters. The peculiarity of the learning mechanism is that the...

Online price comparison agents (shopbots) allow consumers to instantaneously receive price and other information from many online retailers. Online consumer clickstream data from ComScore Inc.demonstrate that consumers are increasingly using shopbots to conduct search. This phenomenon raises...

The aim of this research is to analyze whether and when ratings are informative signals about the quality of movies. The ratings data of Netflix is used to fit a structural Bayesian learning model. This model links revealed experience utilities of raters, previous consumers, to the product...