" Is individual rationality essential to market price formation? The contribution of zero-intelligence agent trading models," Faggio, Giulia & Silva, Olmo & Strange, William C., 2019.ġ02721, London School of Economics and Political Science, LSE Library.Strange, 2019.ĭp1619, Centre for Economic Performance, LSE.
LSE Research Online Documents on Economicsġ03571, London School of Economics and Political Science, LSE Library. " Tales of the city: what do agglomeration cases tell us about agglomeration in general?," Faggio, Giulia & Silva, Olmo & Strange, William C., 2020." Tales of the City: What Do Agglomeration Cases Tell Us About Agglomeration in General?,"ġ9/10, Department of Economics, City University London. It is shown that the advertising industry seems to have been caught in a path-dependent technological trajectory, and that in order for collective learning to unfold geographical proximity needs to be supplemented by cultural and epistemic proximity and compatibility. The paper argues that there are two parallel epistemic communities in the localized advertising industry. The established advertising agencies have been reluctant regarding the new opportunities in Internet-based advertising, which has allowed for a set of smaller and specialized web agencies to emerge, and who now possess the best skills within interactive advertising. The advertising industry in Oslo is currently going through a restructuring process of adapting to the Internet as an emerging media channel for marketing, but struggles to benefit from collective learning. The advertising industry is often seen as adaptable and flexible, and its work organization and diverse project ecologies are assumed to nurture creativity, learning and innovation.
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