The Past, Present, and Future of Artificial Life

For millennia people have wondered what makes the living different from the non-living. Beginning in the mid-1980s, artificial life has studied living systems using a synthetic approach: build life in order to understand it better, be it by means of software, hardware, or wetware. This review provides a summary of the advances that led to the development of artificial life, its current research topics, and open problems and opportunities. We classify artificial life research into fourteen themes: origins of life, autonomy, self-organization, adaptation (including evolution, development, and learning), ecology, artificial societies, behavior, computational biology, artificial chemistries, information, living technology, art, and philosophy. Being interdisciplinary, artificial life seems to be losing its boundaries and merging with other fields

Technological collaboration : bridging the innovation gap between small and large firms

This paper analyzes how technological collaboration acts as an input to the innovation process and allows small and medium-sized entetprises to bridge the innovation gap with their bigger counterparts. Based on a large longitudinal sample of Spanish manufacturing firms, the results show that though technological collaboration is a useful mechanism for firms of all sizes to improve innovativeness, it is a critical factor for the smallest firms. The impact on this collaboration varies depending on innovation output and type of partner. Specifically, the impact of collaboration in small and medium-sized firms is more significant for product than process innovations. Regarding type of partner, vertical collaboration-with suppliers and clients-has the greatest impact on firm innovativeness, though (his effect is clearer lor medium-sized entetprises than for the smallest firmsThis study has been finaneially supported by projeets SEC]2007-67582-C02-02/ECON and CCG08-UC3M/HUM-4152Publicad

The Momentum Effect in Latin American Emerging Markets

We find that momentum strategies yield profits in Latin American emerging markets. Both stock type and country play a major role in explaining the momentum effect in these markets, but stock type is much more important. For risk-averse investors, winner portfolios stochastically dominate loser portfolios in these markets, implying that there are no asset-pricing models consistent with risk-averse investors that can rationalize the momentum effect. The results obtained via the bootstrap procedure without replacement also uphold this conclusion.bootstrap tests, emerging markets, momentum, stochastic dominance,