Economics at Work: Essays on Knowledge, Information and Social Interactions

Over the past decades economic research has drawn attention on the major role that social networks have in disseminating information and knowledge in societies. The articles presented in this volume all represent an integral part of the ongoing research agenda in economics aimed at studying the relation among information, knowledge and social interactions. By suggesting possible links between apparently diverse fi…elds of economics, this represents an attempt to possibly inspire future research endeavors. The fi…rst paper by Emanuela Randon analyzes how information affects consumption behavior and in particular bandwagon effects in consumption patterns. The second article by Filippo Pavesi and Massimo Scotti studies the critical role of information in initial public offerings. The second part of this volume is devoted to analyzing the form and the e¤ects of social and economic interaction. The paper by Stefano Galavotti looks at how the efficiency of trade is a¤ected by sellers and buyers that behave according to plausible rules of thumb. Luca Corazzini presents a model of social reciprocity with anonymous agents in a public good game. The paper by Lorenzo Zirulia explores the effects of different types of …nancial intervention in supporting R&D cooperation in a dynamic model of network formation and industry evolution. The last two contributions of the volume focus on the role of education and human capital in economic growth. Thomas Bassetti offers a valuable survey of the literature on human capital and economic growth. The concluding paper by Mattia Makovec provides an empirical investigation of the redistributive e¤ects of public expenditure in education in Italy.