Related papers: Innovation and imitation
How evolution favors cooperation is a fundamental issue in social and economic systems. In the business world, actively selecting a suitable project is usually helpful for a businessman to be in an advantageous position. By incorporating…
Humans do not always make rational choices, a fact that experimental economics is putting on solid grounds. The social context plays an important role in determining our actions, and often we imitate friends or acquaintances without any…
We develop a game-theoretic framework for the study of competition between firms who have budgets to "seed" the initial adoption of their products by consumers located in a social network. The payoffs to the firms are the eventual number of…
Innovation and evolution are two processes of paramount relevance for social and biological systems. In general, the former allows to introduce elements of novelty, while the latter is responsible for the motion of a system in its phase…
This paper shows how data science can contribute to improving empirical research in economics by leveraging on large datasets and extracting information otherwise unsuitable for a traditional econometric approach. As a test-bed for our…
Growing network models can potentially be a useful tool in the development of economic theory. This work introduces an "opportunistic attachment" mechanism where incoming nodes, in deciding where to join a network, consider features of the…
Based on a recent model of paradigm shifts by Bornholdt et al., we studied mean-field opinion dynamics in an infinite population where an infinite number of ideas compete simultaneously with their values publicly known. We found that a…
We demonstrate by mathematical analysis and systematic computer simulations that redistribution can lead to sustainable growth in a society. The human capital dynamics of each agent is described by a stochastic multiplicative process which,…
Systems with simultaneous cooperation and competition among the elements are ubiquitous. In spite of their practical importance, knowledge on the evolution mechanism of this class of complex system is still very limit. In this work, by…
New ideas are often thought to arise from recombining existing knowledge. Yet despite rapid publication growth - and expanding opportunities for recombination - scientific breakthroughs remain rare. This gap between productivity and…
Competition indices are models frequently used in ecology to account for the impact of density and resource distribution on the growth of a plant population. They allow to define simple individual-based models, by integrating information…
This paper studies the impact of Demand-pull (DP) and Technology-push (TP) on growth, innovation, and the factor bias of technological change in a two-layer network of input-output (market) and patent citation (innovation) links among 307…
Technological developments and the impact of artificial intelligence (AI) are omnipresent themes and concerns of the present day. Much has been written on these topics but applications of quantitative models to understand the techno-social…
The emergence and wide-spread use of online social networks has led to a dramatic increase on the availability of social activity data. Importantly, this data can be exploited to investigate, at a microscopic level, some of the problems…
Latent force models are a class of hybrid models for dynamic systems, combining simple mechanistic models with flexible Gaussian process (GP) perturbations. An extension of this framework to include multiplicative interactions between the…
A dynamic model of the social relations between workers and capitalists is introduced. The model is deduced from the assumption that the law of value is an organising principle of modern economies. The model self-organises into a dynamic…
Large global companies need to speed up their innovation activities to increase competitive advantage. However, such companies' organizational structures impede their ability to capture trends they are well aware of due to bureaucracy, slow…
The emergence of the modern gig economy introduces a new set of employment considerations for firms and laborers that include various trade-offs. With a game-theoretical approach, we examine the influences of technology, policy and markets…
Scientists and inventors set the direction of their work amidst an evolving landscape of questions, opportunities, and challenges. This paper introduces a measurement framework to quantify how far researchers move from their existing…
We develop a new framework for modeling innovation networks which evolve over time. The nodes in the network represent firms, whereas the directed links represent unilateral interactions between the firms. Both nodes and links evolve…