Expectational bottlenecks and the emerging of new organizational forms.
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| Title: | Expectational bottlenecks and the emerging of new organizational forms. |
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| Authors: | Bogliacino, Francesco1 francesco.bogliacino@gmail.com, Rampa, Giorgio2 |
| Source: | Structural Change & Economic Dynamics. Jun2014, Vol. 29, p28-39. 12p. |
| Subjects: | Economic equilibrium, Machine learning, Organizational change, Stagnation (Economics), Economic impact |
| Abstract: | Abstract: In this article we discuss the dynamics of organizational change when agents have heterogeneous initial conjectures and do learn. In this framework, conjectural equilibrium is defined as a steady state of the learning process, and all the adjustment occurs in disequilibrium. We discuss the properties of the system under different “rationality” assumptions, and using well-known learning algorithms. We prove analytically that multiplicity of equilibria, and failure of good organizational routines, cannot be ruled out: better, they are fairly probable. Stability is a crucial matter: it is shown to depend on initial conjectures. Finally, learning does not necessarily select the best. [Copyright &y& Elsevier] |
| Copyright of Structural Change & Economic Dynamics is the property of Elsevier B.V. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | |
| Database: | Engineering Source |
| FullText | Text: Availability: 0 |
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| Header | DbId: egs DbLabel: Engineering Source An: 95930430 AccessLevel: 6 PubType: Academic Journal PubTypeId: academicJournal PreciseRelevancyScore: 0 |
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| Items | – Name: Title Label: Title Group: Ti Data: Expectational bottlenecks and the emerging of new organizational forms. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Bogliacino%2C+Francesco%22">Bogliacino, Francesco</searchLink><relatesTo>1</relatesTo><i> francesco.bogliacino@gmail.com</i><br /><searchLink fieldCode="AR" term="%22Rampa%2C+Giorgio%22">Rampa, Giorgio</searchLink><relatesTo>2</relatesTo> – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="JN" term="%22Structural+Change+%26+Economic+Dynamics%22">Structural Change & Economic Dynamics</searchLink>. Jun2014, Vol. 29, p28-39. 12p. – Name: Subject Label: Subjects Group: Su Data: <searchLink fieldCode="DE" term="%22Economic+equilibrium%22">Economic equilibrium</searchLink><br /><searchLink fieldCode="DE" term="%22Machine+learning%22">Machine learning</searchLink><br /><searchLink fieldCode="DE" term="%22Organizational+change%22">Organizational change</searchLink><br /><searchLink fieldCode="DE" term="%22Stagnation+%28Economics%29%22">Stagnation (Economics)</searchLink><br /><searchLink fieldCode="DE" term="%22Economic+impact%22">Economic impact</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: Abstract: In this article we discuss the dynamics of organizational change when agents have heterogeneous initial conjectures and do learn. In this framework, conjectural equilibrium is defined as a steady state of the learning process, and all the adjustment occurs in disequilibrium. We discuss the properties of the system under different “rationality” assumptions, and using well-known learning algorithms. We prove analytically that multiplicity of equilibria, and failure of good organizational routines, cannot be ruled out: better, they are fairly probable. Stability is a crucial matter: it is shown to depend on initial conjectures. Finally, learning does not necessarily select the best. [Copyright &y& Elsevier] – Name: AbstractSuppliedCopyright Label: Group: Ab Data: <i>Copyright of Structural Change & Economic Dynamics is the property of Elsevier B.V. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.) |
| PLink | https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=egs&AN=95930430 |
| RecordInfo | BibRecord: BibEntity: Identifiers: – Type: doi Value: 10.1016/j.strueco.2013.01.001 Languages: – Code: eng Text: English PhysicalDescription: Pagination: PageCount: 12 StartPage: 28 Subjects: – SubjectFull: Economic equilibrium Type: general – SubjectFull: Machine learning Type: general – SubjectFull: Organizational change Type: general – SubjectFull: Stagnation (Economics) Type: general – SubjectFull: Economic impact Type: general Titles: – TitleFull: Expectational bottlenecks and the emerging of new organizational forms. Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Bogliacino, Francesco – PersonEntity: Name: NameFull: Rampa, Giorgio IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 06 Text: Jun2014 Type: published Y: 2014 Identifiers: – Type: issn-print Value: 0954349X Numbering: – Type: volume Value: 29 Titles: – TitleFull: Structural Change & Economic Dynamics Type: main |
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