Network structure and N-dependence in agent-based herding models

We derive microscopic foundations for a well-known probabilistic herding model in the agent-based finance literature. While the model is quite robust with respect to behavioral heterogeneity, the network structure describing the very feasibility of agent interaction turns out to have a crucial and non-trivial impact on the macroscopic properties of the model.

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Year of publication:	2009
Authors:	Alfarano, Simone ; Milakovic, Mishael
Published in:	Journal of Economic Dynamics and Control. - Elsevier, ISSN 0165-1889. - Vol. 33.2009, 1, p. 78-92
Publisher:	Elsevier
Keywords:	CO2 D84 D85 G19 Herding Networks Mean-field approach N-dependence

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005107234