Interorganizational alliances are widely recognized as critical to product innovation, particularly in high technology markets. Many new product development (NPD) alliances tend to be asymmetric, that is, they are formed between a larger firm and a smaller firm. These asymmetric alliances typically result in changes in the shareholder values of the partner firms. Are the changes in shareholder ...

I alliances are widely recognized as critical to product innovation, particularly in hightechnology markets. Many new product development (NPD) alliances tend to be asymmetric, that is, they are formed between a larger firm and a smaller firm. As is the case with alliances in general, asymmetric alliances also typically result in changes in the shareholder values of the partner firms. Are the c...

Iterated games are an important framework of economic theory and application, at least since the original work of Axelrod’s computational tournaments of the early 80’s. Recent theoretical results have shown that games (the economic context) and game theory (the decision-making process) are both formally equivalent to computational logic gates. Here these results are extended to behavioural data...

People can apparently make surprisingly sophisticated inductive inferences, despite the fact that there are constraints on cognitive resources that would make performing exact Bayesian inference computationally intractable. What algorithms could they be using to make this possible? We show that a simple sequential algorithm, Win-Stay, Lose-Shift (WSLS), can be used to approximate Bayesian infer...

Iterated games, in which the same economic interaction is repeatedly played between the same agents, are an important framework for understanding the effectiveness of strategic choices over time. To date, very little work has applied information theory to the information sets used by agents in order to decide what action to take next in such strategic situations. This article looks at the mutua...

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Two experiments examined acquisition of win-stay, win-shift, lose-stay, and lose-shift rules by which hungry rats could earn food reinforcement. In Experiment 1, two groups of rats were trained in a two-lever operant task that required them to follow either a win-stay/lose-shift or a win-shift/lose-stay contingency. The rates of acquisition of the individual rules within each contingency differ...