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Author: Robin Cowan
Publisher: Springer Science & Business Media
ISBN: 3642556515
Category : Business & Economics
Languages : en
Pages : 340
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Book Description
In traditional economics models of perfect competition agent's interactions are all mediated through the market. Interactions are anonymous, global and indirect. This is a powerful model, but we see many instances in which one, and sometimes all, of the previous characteristics fail to hold true. The type of agent you are, or your identity, can affect the type of interaction we have, and most surely the relationship between micro-behaviour and macro-phenomena in non-trivial ways. This book contains a selection of papers presented at the 6th Workshop on Economics with Heterogenous Interacting Agents (WEHIA). The contributions show that work done in other fields like evolutionary biology, statistical mechanics, social network theory and others help us to understand the way in which economic systems operate. Virtually all of the papers presented in this volume draw on some aspect or other of these varied approaches to related problems.
Author: Robin Cowan
Publisher: Springer Science & Business Media
ISBN: 3642556515
Category : Business & Economics
Languages : en
Pages : 340
Get Book Here
Book Description
In traditional economics models of perfect competition agent's interactions are all mediated through the market. Interactions are anonymous, global and indirect. This is a powerful model, but we see many instances in which one, and sometimes all, of the previous characteristics fail to hold true. The type of agent you are, or your identity, can affect the type of interaction we have, and most surely the relationship between micro-behaviour and macro-phenomena in non-trivial ways. This book contains a selection of papers presented at the 6th Workshop on Economics with Heterogenous Interacting Agents (WEHIA). The contributions show that work done in other fields like evolutionary biology, statistical mechanics, social network theory and others help us to understand the way in which economic systems operate. Virtually all of the papers presented in this volume draw on some aspect or other of these varied approaches to related problems.
Author: Thomas Lux
Publisher: Springer Science & Business Media
ISBN: 3540272968
Category : Business & Economics
Languages : en
Pages : 326
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Book Description
Economic application of nonlinear dynamics, microscopic agent-based modelling, and the use of artificial intelligence techniques as learning devices of boundedly rational actors are among the most exciting interdisciplinary ventures of economic theory over the past decade. This volume provides us with a most fascinating series of examples on "complexity in action" exemplifying the scope and explanatory power of these innovative approaches.
Author: Matteo Richiardi
Publisher: World Scientific
ISBN: 981448136X
Category : Business & Economics
Languages : en
Pages : 431
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Book Description
This book presents the contributions to the first Wild@Ace conference. The acronym stands for “Workshop on Industrial and Labor Dynamics — The Agent-Based Computational Aproach”, and it has been the first event ever focusing on the very promising use of the agent-based simulation approach for investigation of labor economics and industrial organization issues.Agent-based models are computer models in which a multitude of agents — each embodied in a specific software code — interact. These agents can represent individuals households, firms, institutions, etc. Moreover, “special” agents can be added to observe and monitor individual and collective behavior. One of the main purpose of writing an ACE model is to gain intuitions on the two-way feedback between the microstructure and the macrostructure of a phenomenon of interest. How is it that simple aggregate regularities may arise from individual disorder? Or that a nice structure at an individual level may lead to a complete absence of regularity in the aggregate? How is it that the complex interaction of very simple individuals may lead to surprisingly complicated aggregate dynamics? Or that sophisticated agents may be unable to organize themselves in any interesting way?The book includes contributions by some of the most distinguished researchers in the field, such as the economists Alan Kirman, Giovanni Dosi, Leigh Tesfatsion and Mauro Gallegati, and the sociologist Nigel Gilbert.
Author: Aljaž Ule
Publisher: Springer Science & Business Media
ISBN: 3540730168
Category : Psychology
Languages : en
Pages : 209
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Book Description
In this book, a social dilemma with partner selection is introduced and studied with the methods of formal game theory, experimental economics and computer simulations. It allows exploration of simultaneous dynamics of the network structure and cooperative behavior on this structure. The results of this study show that partner choice strongly facilitates cooperation and leads to networks where free-riders are likely to be excluded.
Author: Sven von Widekind
Publisher: Springer Science & Business Media
ISBN: 3540768459
Category : Business & Economics
Languages : en
Pages : 130
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Book Description
The theory on the evolution of preferences deals with the endogenous formation of preference relations in strategic situations. It is related to the field of evolutionary game theory. In this book we analyze the role and the influence of general, possibly non-expected utility preferences in such an evolutionary setup. In particular, we demonstrate that preferences which diverge from von Neumann-Morgenstern expected utility may potentially prove to be successful under evolutionary pressures.
Author: Donald Brown
Publisher: Springer Science & Business Media
ISBN: 3540765913
Category : Business & Economics
Languages : en
Pages : 204
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Book Description
This monograph presents a general equilibrium methodology for microeconomic policy analysis. It is intended to serve as an alternative to the now classical, axiomatic general equilibrium theory as exposited in Debreu`s Theory of Value (1959) or Arrow and Hahn`s General Competitive Analysis (1971). The monograph consists of several essays written over the last decade. It also contains an appendix by Charles Steinhorn on the elements of O-minimal structures.
Author: Andrea Consiglio
Publisher: Springer Science & Business Media
ISBN: 3540731350
Category : Business & Economics
Languages : en
Pages : 277
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Book Description
This volume features contributions to agent-based computational modeling from the social sciences and computer sciences. It presents applications of methodologies and tools, focusing on the uses, requirements, and constraints of agent-based models used by social scientists. Topics include agent-based macroeconomics, the emergence of norms and conventions, the dynamics of social and economic networks, and behavioral models in financial markets.
Author: Karl Tuyls
Publisher: Springer
ISBN: 3540330593
Category : Computers
Languages : en
Pages : 225
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Book Description
This book constitutes the thoroughly refereed post-proceedings of the First International Workshop on Learning and Adaption in Multi-Agent Systems, LAMAS 2005, held in The Netherlands, in July 2005, as an associated event of AAMAS 2005. The 13 revised papers presented together with two invited talks were carefully reviewed and selected from the lectures given at the workshop.
Author: Salvatore Barbaro
Publisher: Springer Science & Business Media
ISBN: 3540285156
Category : Business & Economics
Languages : en
Pages : 127
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Book Description
It has become part of the conventional wisdom in the economics of education that subsidies to higher education have a regressive distributional effect. Given that relatively more children from wealthier families enroll in higher education, many economist assume that these subsidies to higher education have an unwanted distributional impact. This volume presents new empirical evidence for the cross-sectional point of view and provides an analytical framework for the longitudinal perspective. The present volume also analyzes the equity and efficiency effects of widely-discussed funding reforms and proposes a voluntary graduate tax.
Author: Norman Ehrentreich
Publisher: Springer Science & Business Media
ISBN: 3540738797
Category : Business & Economics
Languages : en
Pages : 238
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Book Description
This book reconciles the existence of technical trading with the Efficient Market Hypothesis. By analyzing a well-known agent-based model, the Santa Fe Institute Artificial Stock Market (SFI-ASM), it finds that when selective forces are weak, financial evolution cannot guarantee that only the fittest trading rules will survive. Its main contribution lies in the application of standard results from population genetics which have widely been neglected in the agent-based community.
