Author: Carsien Harm HommesPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Heterogeneous Agent Models: Two Simple Examples
Author: Carsien Harm HommesHeterogeneous Agent Models
Author: Cars HommesHeterogeneous Agent Models
Author: Carsien Harm HommesNonlinear Dynamical Systems in Economics
Author: Marji LinesPublisher: Springer Science & Business Media
ISBN: 3211380434
Category : Business & Economics
Languages : en
Pages : 238
Book Description
Many problems in theoretical economics are mathematically formalized as dynam ical systems of difference and differential equations. In recent years a truly open approach to studying the dynamical behavior of these models has begun to make its way into the mainstream. That is, economists formulate their hypotheses and study the dynamics of the resulting models rather than formulating the dynamics and studying hypotheses that could lead to models with such dynamics. This is a great progress over using linear models, or using nonlinear models with a linear approach, or even squeezing economic models into well-studied nonlinear systems from other fields. There are today a number of economic journals open to publishing this type of work and some of these have become important. There are several societies which have annual meetings on the subject and participation at these has been growing at a good rate. And of course there are methods and techniques avail able to a more general audience, as well as a greater availability of software for numerical and graphical analysis that makes this type of research even more excit ing. The lecturers for the Advanced School on Nonlinear Dynamical Systems in Economics, who represent a wide selection of the research areas to which the the ory has been applied, agree on the importance of simulations and computer-based analysis. The School emphasized computer applications of models and methods, and all contributors ran computer lab sessions.
Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems
Author: Cars HommesPublisher: Cambridge University Press
ISBN: 110701929X
Category : Business & Economics
Languages : en
Pages : 273
Book Description
Recognising that the economy is a complex system with boundedly rational interacting agents, applies complexity modelling to economics and finance.
Computational Economics: Heterogeneous Agent Modeling
Author: Cars HommesPublisher: Elsevier
ISBN: 0444641327
Category : Business & Economics
Languages : en
Pages : 836
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
The Oxford Handbook of Computational Economics and Finance
Author: Shu-Heng ChenPublisher: Oxford University Press
ISBN: 0190877502
Category : Business & Economics
Languages : en
Pages : 785
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.
Handbook of Computational Economics
Author: Leigh TesfatsionPublisher: Elsevier
ISBN: 0080459870
Category : Business & Economics
Languages : en
Pages : 905
Book Description
The explosive growth in computational power over the past several decades offers new tools and opportunities for economists. This handbook volume surveys recent research on Agent-based Computational Economics (ACE), the computational study of economic processes modeled as dynamic systems of interacting agents. Empirical referents for "agents" in ACE models can range from individuals or social groups with learning capabilities to physical world features with no cognitive function. Topics covered include: learning; empirical validation; network economics; social dynamics; financial markets; innovation and technological change; organizations; market design; automated markets and trading agents; political economy; social-ecological systems; computational laboratory development; and general methodological issues. *Every volume contains contributions from leading researchers *Each Handbook presents an accurate, self-contained survey of a particular topic *The series provides comprehensive and accessible surveys
Nonlinear Dynamics and Heterogeneous Interacting Agents
Author: Thomas LuxPublisher: Springer Science & Business Media
ISBN: 9783540222378
Category : Business & Economics
Languages : en
Pages : 346
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.
Agent-Based Models in Economics
Author: Domenico Delli GattiPublisher: Cambridge University Press
ISBN: 1108414990
Category : Business & Economics
Languages : en
Pages : 261
Book Description
The first step-by-step introduction to the methodology of agent-based models in economics, their mathematical and statistical analysis, and real-world applications.