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-period alternating offer, and dictator games; games where reciprocity is thought to play a role, such as the prisoner’s dilemma and the gift exchange game; and games where competitive behavior is observed, such as Bertrand and Cournot markets, and the guessing game.

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this paper what we know about foreign trade and in what ways our understanding has improved as a result of the last 20 years of research

This paper empirically investigates the effects of liberalized trade on plant productivity in the case of Chile. Chile presents an interesting setting to study this relationship since it underwent a massive trade liberalization that significantly exposed its plants to competition from abroad during

Recent research using establishment and firm level data has raised a variety of conceptual and measurement questions regarding our understanding of aggregate productivity growth. 1 Several key, related findings are of interest. First, there is large scale, ongoing reallocation of outputs and inputs across individual producers. Second, the pace of this reallocation varies over time (both secularly and cyclically) and across sectors. Third, much of this reallocation reflects within rather than between sector reallocation. Fourth, there are large differentials in the levels and the rates of growth of productivity across establishments within the same sector. The rapid pace of output and input reallocation along with differences in productivity levels and growth rates are the necessary ingredients for the pace of reallocation to play an important role in aggregate (i.e., industry) productivity growth. However, our review of the existing studies indicates that the measured contribution of such reallocation effects varies over time and across sectors and is sensitive to measurement methodology. An important objective of this paper is to sort out the role of these different factors so that we can understand the

This paper provides an overview of research and development activities in the field of autonomous agents and multi-agent systems. It aims to identify key concepts and applications, and to indicate how they relate to one-another. Some historical context to the field of agent-based computing

) agent-oriented approaches represent a genuine advance over the current state of the art for engineering complex systems. Following on from this view, the major issues raised by adopting an agent-oriented approach to software engineering are highlighted and discussed.

We model a market populated by two groups of boundedly rational agents: “newswatchers” and “momentum traders.” Each newswatcher observes some private information, but fails to extract other newswatchers’ information from prices. If information diffuses gradually across the population, prices

generated by the reallocations contributes to a welfare gain, thus highlighting a benefit from trade that has not been examined theoretically before. The paper adapts Hopenhayn’s (1992a) dynamic industry model to monopolistic competition in a general equilibrium setting. In so doing, the paper provides