nep-cbe New Economics Papers
on Cognitive and Behavioural Economics
Issue of 2005‒02‒20
four papers chosen by
Marco Novarese
Universita del Piemonte Orientale
  1. Asymmetric Information about Rivals’ Types in Standard Auctions: An Experiment By James Andreoni; Yeon-Koo Che; Jinwoo Kim
  2. Information Acquisition: Experimental Analysis of a Boundedly Rational Model By Xavier Gabaix; David Laibson; Guillermo Moloche; Stephen Weinberg
  3. Paradoxes of Modernist Consumption – Reading Fashions By Dolfsma, W.
  4. Weird Ties? Growth, Cycles and Firm Dynamics in an Agent-Based Model with Financial-Market Imperfections By Mauro Napoletano, Domenico Delli Gatti, Giorgio Fagiolo, Mauro Gallegati
  1. By: James Andreoni; Yeon-Koo Che; Jinwoo Kim
    Date: 2005–02–10
    URL: http://d.repec.org/n?u=RePEc:cla:levrem:666156000000000474&r=cbe
  2. By: Xavier Gabaix; David Laibson; Guillermo Moloche; Stephen Weinberg
    Date: 2005–02–10
    URL: http://d.repec.org/n?u=RePEc:cla:levrem:666156000000000480&r=cbe
  3. By: Dolfsma, W. (Erasmus Research Institute of Management (ERIM), RSM Erasmus University)
    Abstract: Fashion is the quintessential post-modernist consumer practice, or so many hold. In this contribution, I argue that, on the contrary, fashion should be understood as a means of communicating one's commitment to modernist values. I introduce the framework of the Social Value Network, to relate such values to institutionalised consumption behaviour, allowing one to signal to others. Modernist values are not homogenous, and are in important ways contradictory, giving rise to the dynamics of fashion that can be observed.
    Keywords: consumption;modernism;fashion;identity;symbolic goods;
    Date: 2004–06–23
    URL: http://d.repec.org/n?u=RePEc:dgr:eureri:30001459&r=cbe
  4. By: Mauro Napoletano, Domenico Delli Gatti, Giorgio Fagiolo, Mauro Gallegati
    Abstract: This paper studies how the interplay between technological shocks and financial variables shapes the properties of macroeconomic dynamics. Most of the existing literature has based the analysis of aggregate macroeconomic regularities on the representative agent hypothesis (RAH). However, recent empirical research on longitudinal micro data sets has revealed a picture of business cycles and growth dynamics that is very far from the homogeneous one postulated in models based on the RAH. In this work, we make a preliminary step in bridging this empirical evidence with theoretical explanations. We propose an agent-based model with heterogeneous firms, which interact in an economy characterized by financial-market imperfections and costly adoption of new technologies. Monte-Carlo simulations show that the model is able jointly to replicate a wide range of stylised facts characterizing both macroeconomic time-series (e.g. output and investment) and firms' microeconomic dynamics (e.g. size, growth, and productivity).
    Keywords: Financial Market Imperfections, Business Fluctuations, Economic Growth, Firm Size, Firm Growth, Productivity Growth, Agent-Based Models.
    URL: http://d.repec.org/n?u=RePEc:ssa:lemwps:2005/03&r=cbe
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