An evolutionary Trade Network Game (TNG) is proposed for studying the interplay between evolutionary game dynamics and preferential partner selection in various market contexts with distributed adaptive agents. The modular form of the TNG facilitates experimentation with alternative...

A previous study, which examined oligopolists as responding simply to past prices of their strategic rivals, used data from a mature market with stable rules of thumb (mappings from past actions or states of the market to present prices) for the oligopolists' behaviour, whether purposefully...

A model for constructing quadratic, polynomial, and separable objective functions from interviewing experts is considered. The person interviewed is presented a set of incomplete alternatives (vectors of target variables, with one coordinate not being fixed) and is asked to complete these...

In this paper we prove that every linear model with rational expectations can be transformed by means of an one-to-one mapping into another model which has one of the following properties: i) it is degenerated, ii) it is backward, iii) it has a Blanchard-Kahn form. In addition to some simple...

In this paper, we examine techniques for the analytical and numerical solution of statedependent differential-difference equations. Such equations occur in the continuous time modelling of vintage capital growth models, which form a particularly important class of models in modern economic...

We will show by means of an example that, stated this way, this assertion is in general not correct. Therefore, we reconsider in this paper first the conditions under which the finite-planning- horizon linear-quadratic differential game has an open-loop Nash equilibrium solution. We present both...

Some authors distinguish between ``earnings management and ``income smoothing. The former occurs when the manager reports a number different from ``actual earnings to shareholders without facing intertemporal restrictions on the discretionary amount that she reports. In contrast, income...

Fair and Jaffeen[Fair and Jaffee1972] considered the econometrics of models of markets which were not in equilibrium. The estimation of disequilibrium models has proved difficult. Because of this the model was chosen to be a member of a test suite of optimization problems by Dorsey and...

Many financial time series look erratic and their evolution is notoriously hard to forecast. Most if not all economist do not see financial markets as being governed by some low-dimensional system of deterministic equations. Rather, it is generally accepted that financial variables evolve under...

Our purpose in this communication is to present a methodology for forecasting univariate time series. This methodology combines standard forecasting techniques with ``wavelet methodology. The recently developed wavelet theory has proven to be a useful tool in the analysis of some problems in...