Industry Structure and Value-motivated Conglomeration

The U.S. Information Economy: Value, Employment, Industry Structure, and Trade

Hedonic value: enhancing adaptation for motivated agents

Reinforcement learning (RL) in the context of artificial agents is typically used to produce behavioural responses as a function of the reward obtained by interaction with the environment. When the problem consists of learning the shortest path to a goal, it is common to use reward functions yielding a fixed value after each decision, for example a positive value if the target location has been...

Motivated Value Selection for Artificial Agents

Coding values (or preferences) directly into an artificial agent is a very challenging task, while value selection (or valuelearning, or value-loading) allows agents to learn values from their programmers, other humans or their environments in an interactive way. However, there is a conflict between agents learning their future values and following their current values, which motivates agents t...

Financial Conglomeration: Efficiency, Productivity and Strategic Drive

Consolidation in the global banking industry has resulted in the emergence of financial conglomerates that conduct an extensive range of businesses with a group structure. To date, however, few studies have investigated the performance features of such groups. This study aims to extend the literature by evaluating the cost characteristics (scale, scope and x-efficiency), profit efficiency and p...

Learning Curve and Industry Structure: Evidences from Iranian Manufacturing Industries

he empirical studies have shown that cost advantages can occur due to economies of scale and economies of learning. However, a few studies have attempted to distinguish between these two effects on reducing costs. This paper is the first attempt on recognizing the impact of learning on reducing the cost with distinguishing the effect of economies of scale in Iran. Therefore, this study aims to ...