Related papers: Learning to Import through Production Networks
Firms are more likely to introduce products in markets where they anticipate stronger demand. They also possess information that is unobserved to researchers. This creates endogenous selection bias in the estimation of demand parameters.…
Modern macroeconomic theories were unable to foresee the last Great Recession and could neither predict its prolonged duration nor the recovery rate. They are based on supply-demand equilibria that do not exist during recessionary shocks.…
We present a new model of the evolutionary dynamics and the growth of on-line social networks. The model emulates people's strategies for acquiring information in social networks, emphasising the local subjective view of an individual and…
Sales pipeline analysis is fundamental to proactive management of an enterprize's sales pipeline and critical for business success. In particular, win propensity prediction, which involves quantitatively estimating the likelihood that…
This paper assesses the role of financial performance in explaining firms' investment dynamics in the wine industry from the three European Union (EU) largest producers. The wine sector deserves special attention to investigate firms'…
A key element to understand complex systems is the relationship between the spatial scale of investigation and the structure of the interrelation among its elements. When it comes to economic systems, it is now well-known that the…
This paper models firm-to-firm trade in a production network as a set of double auctions. Firms have multilateral market power, namely, can affect prices in both input and output markets. The size and division of surplus are endogenous and…
We propose a deep learning approach to probabilistic forecasting of macroeconomic and financial time series. Being able to learn complex patterns from a data rich environment, our approach is useful for a decision making that depends on…
Trade networks, across which countries distribute their products, are crucial components of the globalized world economy. Their structure is strongly heterogeneous across products, given the different features of the countries which buy and…
Intrusion detection systems are crucial for network security. Verification of these systems is complicated by various factors, including the heterogeneity of network platforms and the continuously changing landscape of cyber threats. In…
Demand is growing for more accountability regarding the technological systems that increasingly occupy our world. However, the complexity of many of these systems - often systems-of-systems - poses accountability challenges. A key reason…
Economic systems, traditionally analyzed as almost independent national systems, are increasingly connected on a global scale. Only recently becoming available, the World Input-Output Database (WIOD) is one of the first efforts to construct…
The objective of this paper is to fill a gap in the literature on internationalization, in relation to the absence of objective and measurable performance indicators on the process of how firms sequentially enter external markets. To that…
Estimating consumer preferences is central to many problems in economics and marketing. This paper develops a flexible framework for learning individual preferences from partial ranking information by interpreting observed rankings as…
Supply chains are the backbone of the global economy. Disruptions to them can be costly. Centrally managed supply chains invest in ensuring their resilience. Decentralized supply chains, however, must rely upon the self-interest of their…
This paper studies the statistical properties of the web of import-export relationships among world countries using a weighted-network approach. We analyze how the distributions of the most important network statistics measuring…
"Spillover" learning is defined as customers' learning about the quality of a service (or product) from their previous experiences with similar yet not identical services. In this paper, we propose a novel, parsimonious and general Bayesian…
The networked nature of supply chains makes them susceptible to systemic risk, where local firm failures can propagate through firm interdependencies that can lead to cascading supply chain disruptions. The systemic risk of supply chains…
We study whether specific combinations of technological advancements can signal the presence of local capabilities allowing for a given industrial production. To this end, we generate a multi-layer network using country-level patent and…
Recent crises have shown that the knowledge of the structure of input-output networks at the firm level is crucial when studying economic resilience from the microscopic point of view of firms that rewire their connections under supply and…