Philosophers have argued that stakes affect knowledge: a given amount of evidence may suffice for... more Philosophers have argued that stakes affect knowledge: a given amount of evidence may suffice for knowledge if the stakes are low, but not if the stakes are high. By contrast, empirical work on the influence of stakes on ordinary knowledge ascriptions has been divided along methodological lines: "evidence-fixed" prompts rarely find stakes effects, while "evidence-seeking" prompts consistently find them. We present a cross-cultural study using both evidence-fixed and evidence-seeking prompts with a diverse sample of 17 populations in 11 countries, speaking 14 languages. Our study is the first to use an evidence-seeking prompt cross-culturally, and includes several previously untested populations (including indigenous populations). Across cultures, we do not find evidence of a stakes effect with our evidencefixed prompt, but do with our evidence-seeking prompt. This is an open access article under the terms of the Creative Commons Attribution-NonCommercial-NoDerivs License, which permits use and distribution in any medium, provided the original work is properly cited, the use is non-commercial and no modifications or adaptations are made.
The main goal of this paper is to propose a new
methodological tool for economists, namely,
agent... more The main goal of this paper is to propose a new methodological tool for economists, namely, agent-based computational models applied to Economics. There is a great opportunity after the severe criticisms by renowned economists and thinkers to the conventional economic theory due to its incapability to predict the last international financial crisis. Here, we describe the origins and main characteristics of this approach, and present four cases with relevant applications for economic theory: the theory of the firm, industrial clusters, asset valuation and financial bubbles, and the welfare theorems. This approach has the advantage of allowing us to model in a more realistic vein without loosing the necessary rigorousness to generalize results. Moreover, we can better integrate the microeconomic processes with the aggregate results out of the interaction of different agent types.
... Modeling-based analyses can offer new insights for analysts ... from the theory of political ... more ... Modeling-based analyses can offer new insights for analysts ... from the theory of political uncertainty and from ... the second Iraq War, 2003–2006, in the province ...
Historia Económica del Ecuador. Evaluación de Políticas. Política Fiscal y Proceso Presupuestario... more Historia Económica del Ecuador. Evaluación de Políticas. Política Fiscal y Proceso Presupuestario. Dolarización. Incertidumbre Institucional. Sociedad Rentista. Igualdad y Equidad.
What are the causes of banking crises? How do economic networks emerge? This book introduces inno... more What are the causes of banking crises? How do economic networks emerge? This book introduces innovative methods to answer these and related questions. Banking networks are at the core of the contagion processes that took place during the last international financial crisis that affected many developed countries. A domestic economic crisis can turn into a global crisis through financial channels. New approaches are needed to better understand this kind of phenomenon. The combination of multi-agent systems and social network analysis with the help of object-oriented programming offers a new tool for economists. This new tool just like the development of better microscopes did for chemistry can provide a much better grasp of complex economic phenomena. Also, complexity scientists could find in this book how all these modeling techniques can be applied to issues usually explained with conventional methods.
Ecuador is not a society that upholds classical liberal values. Since its inception as a republic... more Ecuador is not a society that upholds classical liberal values. Since its inception as a republic in 1830, the country has had twenty constitutions with an average duration of nine years, that is, slightly over two presidential terms. Why has liberalism not taken root in Ecuador? In this paper we argue that the main reason is the combination of a weak state capacity and a rentist society. This is problematic because it leads to constitutions that are customized to the current ruling coalition. Together, these characteristics lead society to an ongoing process of constitutional instability that generate uncertainty undermining society's grasp of liberal values and economic development.
Philosophers have argued that stakes affect knowledge: a given amount of evidence may suffice for... more Philosophers have argued that stakes affect knowledge: a given amount of evidence may suffice for knowledge if the stakes are low, but not if the stakes are high. By contrast, empirical work on the influence of stakes on ordinary knowledge ascriptions has been divided along methodological lines: "evidence-fixed" prompts rarely find stakes effects, while "evidence-seeking" prompts consistently find them. We present a cross-cultural study using both evidence-fixed and evidence-seeking prompts with a diverse sample of 17 populations in 11 countries, speaking 14 languages. Our study is the first to use an evidence-seeking prompt cross-culturally, and includes several previously untested populations (including indigenous populations). Across cultures, we do not find evidence of a stakes effect with our evidencefixed prompt, but do with our evidence-seeking prompt. This is an open access article under the terms of the Creative Commons Attribution-NonCommercial-NoDerivs License, which permits use and distribution in any medium, provided the original work is properly cited, the use is non-commercial and no modifications or adaptations are made.
The main goal of this paper is to propose a new
methodological tool for economists, namely,
agent... more The main goal of this paper is to propose a new methodological tool for economists, namely, agent-based computational models applied to Economics. There is a great opportunity after the severe criticisms by renowned economists and thinkers to the conventional economic theory due to its incapability to predict the last international financial crisis. Here, we describe the origins and main characteristics of this approach, and present four cases with relevant applications for economic theory: the theory of the firm, industrial clusters, asset valuation and financial bubbles, and the welfare theorems. This approach has the advantage of allowing us to model in a more realistic vein without loosing the necessary rigorousness to generalize results. Moreover, we can better integrate the microeconomic processes with the aggregate results out of the interaction of different agent types.
... Modeling-based analyses can offer new insights for analysts ... from the theory of political ... more ... Modeling-based analyses can offer new insights for analysts ... from the theory of political uncertainty and from ... the second Iraq War, 2003–2006, in the province ...
Historia Económica del Ecuador. Evaluación de Políticas. Política Fiscal y Proceso Presupuestario... more Historia Económica del Ecuador. Evaluación de Políticas. Política Fiscal y Proceso Presupuestario. Dolarización. Incertidumbre Institucional. Sociedad Rentista. Igualdad y Equidad.
What are the causes of banking crises? How do economic networks emerge? This book introduces inno... more What are the causes of banking crises? How do economic networks emerge? This book introduces innovative methods to answer these and related questions. Banking networks are at the core of the contagion processes that took place during the last international financial crisis that affected many developed countries. A domestic economic crisis can turn into a global crisis through financial channels. New approaches are needed to better understand this kind of phenomenon. The combination of multi-agent systems and social network analysis with the help of object-oriented programming offers a new tool for economists. This new tool just like the development of better microscopes did for chemistry can provide a much better grasp of complex economic phenomena. Also, complexity scientists could find in this book how all these modeling techniques can be applied to issues usually explained with conventional methods.
Ecuador is not a society that upholds classical liberal values. Since its inception as a republic... more Ecuador is not a society that upholds classical liberal values. Since its inception as a republic in 1830, the country has had twenty constitutions with an average duration of nine years, that is, slightly over two presidential terms. Why has liberalism not taken root in Ecuador? In this paper we argue that the main reason is the combination of a weak state capacity and a rentist society. This is problematic because it leads to constitutions that are customized to the current ruling coalition. Together, these characteristics lead society to an ongoing process of constitutional instability that generate uncertainty undermining society's grasp of liberal values and economic development.
Uploads
Papers by Pedro Romero
methodological tool for economists, namely,
agent-based computational models applied to
Economics. There is a great opportunity after the
severe criticisms by renowned economists and
thinkers to the conventional economic theory due
to its incapability to predict the last international
financial crisis. Here, we describe the origins
and main characteristics of this approach, and
present four cases with relevant applications for
economic theory: the theory of the firm, industrial
clusters, asset valuation and financial bubbles,
and the welfare theorems. This approach has the
advantage of allowing us to model in a more realistic
vein without loosing the necessary rigorousness
to generalize results. Moreover, we can better
integrate the microeconomic processes with the
aggregate results out of the interaction of different
agent types.
Books by Pedro Romero
Drafts by Pedro Romero
methodological tool for economists, namely,
agent-based computational models applied to
Economics. There is a great opportunity after the
severe criticisms by renowned economists and
thinkers to the conventional economic theory due
to its incapability to predict the last international
financial crisis. Here, we describe the origins
and main characteristics of this approach, and
present four cases with relevant applications for
economic theory: the theory of the firm, industrial
clusters, asset valuation and financial bubbles,
and the welfare theorems. This approach has the
advantage of allowing us to model in a more realistic
vein without loosing the necessary rigorousness
to generalize results. Moreover, we can better
integrate the microeconomic processes with the
aggregate results out of the interaction of different
agent types.