A Computational Model of Industry Dynamics

A Computational Model of Industry Dynamics PDF Author: Myong-Hun Chang
Publisher: Routledge
ISBN: 1134582773
Category : Business & Economics
Languages : en
Pages : 159

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Book Description
The economics literature on industry dynamics contains a wide array of empirical works identifying a set of stylized facts. There have been several attempts at constructing analytical models to explain some of these regularities. These attempts are highly stylized and limited in scope to keep the analyses tractable. A general model of industry evolution capable of generating firm and industry behaviour that can match the data is needed. This book endeavours to explain many well-documented aspects of the evolution of industries over time. It uses an agent-based computational model in which artificial industries are created and grown to maturity in silico. While the firms in the model are assumed to have bounded rationality, they are nevertheless adaptive in the sense that their experience-based R&D efforts allow them to search for improved technologies. Given a technological environment subject to persistent and unexpected external shocks, the computationally generated industry remains in a perennial state of flux. The main objective of this study is to identify patterns that exist in the movements of firms as the industry evolves over time along the steady state in which the measured behaviour of the firms and the industry stochastically fluctuate around steady means. The computational model developed in this book is able to replicate many of the stylized facts from the empirical industrial organization literature, particularly as the facts pertain to the dynamics of firm entry and exit. Furthermore, the model allows examination of cross-industry variations in entry and exit patterns by systematically varying the characteristics of the market and the technological environment within which the computationally generated industry evolves. The model demonstrates that the computational approach based on boundedly rational agents in a dynamic setting can be useful and effective in carrying out both positive and normative economic analysis.

The Oxford Handbook of Computational Economics and Finance

The Oxford Handbook of Computational Economics and Finance PDF Author: Shu-Heng Chen
Publisher: Oxford University Press
ISBN: 0190877502
Category : Business & Economics
Languages : en
Pages : 785

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Book Description
The Oxford Handbook of Computational Economics and Finance provides a survey of both the foundations of and recent advances in the frontiers of analysis and action. It is both historically and interdisciplinarily rich and also tightly connected to the rise of digital society. It begins with the conventional view of computational economics, including recent algorithmic development in computing rational expectations, volatility, and general equilibrium. It then moves from traditional computing in economics and finance to recent developments in natural computing, including applications of nature-inspired intelligence, genetic programming, swarm intelligence, and fuzzy logic. Also examined are recent developments of network and agent-based computing in economics. How these approaches are applied is examined in chapters on such subjects as trading robots and automated markets. The last part deals with the epistemology of simulation in its trinity form with the integration of simulation, computation, and dynamics. Distinctive is the focus on natural computationalism and the examination of the implications of intelligent machines for the future of computational economics and finance. Not merely individual robots, but whole integrated systems are extending their "immigration" to the world of Homo sapiens, or symbiogenesis.

Pathways Between Social Science and Computational Social Science

Pathways Between Social Science and Computational Social Science PDF Author: Tamás Rudas
Publisher: Springer Nature
ISBN: 3030549364
Category : Social Science
Languages : en
Pages : 284

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Book Description
This volume shows that the emergence of computational social science (CSS) is an endogenous response to problems from within the social sciences and not exogeneous. The three parts of the volume address various pathways along which CSS has been developing from and interacting with existing research frameworks. The first part exemplifies how new theoretical models and approaches on which CSS research is based arise from theories of social science. The second part is about methodological advances facilitated by CSS-related techniques. The third part illustrates the contribution of CSS to traditional social science topics, further attesting to the embedded nature of CSS. The expected readership of the volume includes researchers with a traditional social science background who wish to approach CSS, experts in CSS looking for substantive links to more traditional social science theories, methods and topics, and finally, students working in both fields.

Computational Fluid Dynamics

Computational Fluid Dynamics PDF Author: Xiaofeng Liu
Publisher:
ISBN: 9780784415313
Category : Computational fluid dynamics
Languages : en
Pages : 186

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Book Description
This book provides an introduction, overview, and specific examples of computational fluid dynamics and their applications in the water, wastewater, and stormwater industry.

Fluid Dynamics, Computational Modeling and Applications

Fluid Dynamics, Computational Modeling and Applications PDF Author: L. Hector Juarez
Publisher: BoD – Books on Demand
ISBN: 9535100521
Category : Computers
Languages : en
Pages : 664

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Book Description
The content of this book covers several up-to-date topics in fluid dynamics, computational modeling and its applications, and it is intended to serve as a general reference for scientists, engineers, and graduate students. The book is comprised of 30 chapters divided into 5 parts, which include: winds, building and risk prevention; multiphase flow, structures and gases; heat transfer, combustion and energy; medical and biomechanical applications; and other important themes. This book also provides a comprehensive overview of computational fluid dynamics and applications, without excluding experimental and theoretical aspects.

Simulating Organizations

Simulating Organizations PDF Author: Michael J. Prietula
Publisher: AAAI Press
ISBN: 9780262661089
Category : Artificial intelligence
Languages : en
Pages : 0

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Book Description
Computer modelling is increasingly being used as a tool in the social and organizational sciences. Researchers use it to gain insights into organizational phenomena and to explore dynamic processes and configurations. This volume brings together work from researchers in this field.

Dynamic General Equilibrium Modeling

Dynamic General Equilibrium Modeling PDF Author: Burkhard Heer
Publisher: Springer Science & Business Media
ISBN: 364203148X
Category : Business & Economics
Languages : en
Pages : 720

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Book Description
Modern business cycle theory and growth theory uses stochastic dynamic general equilibrium models. In order to solve these models, economists need to use many mathematical tools. This book presents various methods in order to compute the dynamics of general equilibrium models. In part I, the representative-agent stochastic growth model is solved with the help of value function iteration, linear and linear quadratic approximation methods, parameterised expectations and projection methods. In order to apply these methods, fundamentals from numerical analysis are reviewed in detail. In particular, the book discusses issues that are often neglected in existing work on computational methods, e.g. how to find a good initial value. In part II, the authors discuss methods in order to solve heterogeneous-agent economies. In such economies, the distribution of the individual state variables is endogenous. This part of the book also serves as an introduction to the modern theory of distribution economics. Applications include the dynamics of the income distribution over the business cycle or the overlapping-generations model. In an accompanying home page to this book, computer codes to all applications can be downloaded.

Computational Economics: Heterogeneous Agent Modeling

Computational Economics: Heterogeneous Agent Modeling PDF Author: Cars Hommes
Publisher: Elsevier
ISBN: 0444641327
Category : Business & Economics
Languages : en
Pages : 836

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Book Description
Handbook of Computational Economics: Heterogeneous Agent Modeling, Volume Four, focuses on heterogeneous agent models, emphasizing recent advances in macroeconomics (including DSGE), finance, empirical validation and experiments, networks and related applications. Capturing the advances made since the publication of Volume Two (Tesfatsion & Judd, 2006), it provides high-level literature with sections devoted to Macroeconomics, Finance, Empirical Validation and Experiments, Networks, and other applications, including Innovation Diffusion in Heterogeneous Populations, Market Design and Electricity Markets, and a final section on Perspectives on Heterogeneity. - Helps readers fully understand the dynamic properties of realistically rendered economic systems - Emphasizes detailed specifications of structural conditions, institutional arrangements and behavioral dispositions - Provides broad assessments that can lead researchers to recognize new synergies and opportunities

Computable, Constructive and Behavioural Economic Dynamics

Computable, Constructive and Behavioural Economic Dynamics PDF Author: Stefano Zambelli
Publisher: Routledge
ISBN: 1135272530
Category : Business & Economics
Languages : en
Pages : 560

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Book Description
The book contains thirty original articles dealing with important aspects of theoretical as well as applied economic theory. While the principal focus is on: the computational and algorithmic nature of economic dynamics; individual as well as collective decision process and rational behavior, some contributions emphasize also the importance of classical recursion theory and constructive mathematics for dynamical systems, business cycles theories, growth theories, and others are in the area of history of thought, methodology and behavioural economics. The contributors range from Nobel Laureates to the promising new generation of innovative thinkers. This volume is also a Festschrift in honour of Professor Kumaraswamy Vela Velupillai, the founder of Computable Economics, a growing field of research where important results stemming from classical recursion theory and constructive mathematics are applied to economic theory. The aim and hope is to provide new tools for economic modelling. This book will be of particular appeal to postgraduate students and scholars in one or more of the following fields: computable economics, business cycles, macroeconomics, growth theories, methodology, behavioural economics, financial economics, experimental and agent based economics. It might be also of importance to those interested on the general theme of algorithmic foundations for social sciences.

Computable, Constructive & Behavioural Economic Dynamics

Computable, Constructive & Behavioural Economic Dynamics PDF Author: Stefano Zambelli
Publisher: Routledge
ISBN: 1135272522
Category : Business & Economics
Languages : en
Pages : 812

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Book Description
The book contains thirty original articles dealing with important aspects of theoretical as well as applied economic theory. While the principal focus is on: the computational and algorithmic nature of economic dynamics; individual as well as collective decision process and rational behavior, some contributions emphasize also the importance of classical recursion theory and constructive mathematics for dynamical systems, business cycles theories, growth theories, and others are in the area of history of thought, methodology and behavioural economics. The contributors range from Nobel Laureates to the promising new generation of innovative thinkers. This volume is also a Festschrift in honour of Professor Kumaraswamy Vela Velupillai, the founder of Computable Economics, a growing field of research where important results stemming from classical recursion theory and constructive mathematics are applied to economic theory. The aim and hope is to provide new tools for economic modelling. This book will be of particular appeal to postgraduate students and scholars in one or more of the following fields: computable economics, business cycles, macroeconomics, growth theories, methodology, behavioural economics, financial economics, experimental and agent based economics. It might be also of importance to those interested on the general theme of algorithmic foundations for social sciences.