Search Results - subject:"Agent Based Models"

Weird Ties? Growth, Cycles and Firm Dynamics in an Agent-Based Model with Financial-Market Imperfections

Napoletano, Mauro; Gatti, Domenico Delli; Fagiolo, Giorgio - Laboratory of Economics and Management (LEM), Scuola … - 2005

: FinancialMarketImperfections, BusinessFluctuations, EconomicGrowth, Firm Size, Firm Growth, Productivity Growth, Agent-Based Models. JEL …, 2004), and heavily builds on Delli Gatti et al. (2005). Agent-based models have been developed to study the properties of … displayed by \real- world" economies look quite difierent from the homogeneous one postulated in represen- 2 tative agent based …

Persistent link: https://www.econbiz.de/10005292636

Trade, Employment and the Informal Sector: An Agent-based Analysis

Gibson, Bill - In: Margin: The Journal of Applied Economic Research 6 (2012) 2, pp. 277-310

This article discusses a multi-agent model of the informal sector. An analytical model is first developed to explore the possible range of relationships between formal and informal employment. Data from the agent-based model support protecting formal sector jobs with current account...

Persistent link: https://www.econbiz.de/10010781156

Heat baths and computational agent-based models

Clark, Andrew - In: Physica A: Statistical Mechanics and its Applications 391 (2012) 22, pp. 5512-5520

In this paper, we examine an agent-based model, and an equation-based model in the form of a mean field model. We show how the mean field model is a small, fast model that identifies the high level properties of a subject, in this case financial time series’ stylized facts. The agent based...

Persistent link: https://www.econbiz.de/10010873902

Understanding agent-based models of financial markets: A bottom–up approach based on order parameters and phase diagrams

Lye, Ribin; Tan, James Peng Lung; Cheong, Siew Ann - In: Physica A: Statistical Mechanics and its Applications 391 (2012) 22, pp. 5521-5531

phase diagrams, for understanding progressively refined agent-based models and simulations of financial markets. We …

Persistent link: https://www.econbiz.de/10010874583

Nonlinear expectations in speculative markets – Evidence from the ECB survey of professional forecasters

Reitz, Stefan; Rülke, Jan-Christoph; Stadtmann, Georg - In: Journal of Economic Dynamics and Control 36 (2012) 9, pp. 1349-1363

Chartist and fundamentalist models have proven to be capable of replicating stylized facts on speculative markets. In general, this is achieved by specifying nonlinear interactions of otherwise linear asset price expectations of the respective trader groups. This paper investigates whether or...

Persistent link: https://www.econbiz.de/10011051924

Complexity, economics, and public policy

Durlauf, Steven N. - In: Politics, Philosophy & Economics 11 (2012) 1, pp. 45-75

This article considers the implications of complex systems models for the study of economics and the evaluation of public policies. I argue that complexity can enhance current approaches to formal economic analysis, but does so in ways that complement current approaches. I further argue that...

Persistent link: https://www.econbiz.de/10009654036

Agent based reasoning for the non-linear stochastic models of long-range memory

Kononovicius, A.; Gontis, V. - In: Physica A: Statistical Mechanics and its Applications 391 (2012) 4, pp. 1309-1314

We extend Kirman’s model by introducing variable event time scale. The proposed flexible time scale is equivalent to the variable trading activity observed in financial markets. Stochastic version of the extended Kirman’s agent based model is compared to the non-linear stochastic models of...

Persistent link: https://www.econbiz.de/10010589016

On the Peter Principle: An agent based investigation into the consequential effects of social networks and behavioural factors

Fetta, A.G.; Harper, P.R.; Knight, V.A.; Vieira, I.T.; … - In: Physica A: Statistical Mechanics and its Applications 391 (2012) 9, pp. 2898-2910

The Peter Principle is a theory that provides a paradoxical explanation for job incompetence in a hierarchical organisation. It argues that should staff be competent at a given level, their competence may not be implicit at higher levels due to the differences in the skill set required....

Persistent link: https://www.econbiz.de/10010590037

Innovation diffusion with heterogeneous networked agents: a computational model

Leite, Rui; Teixeira, Aurora - In: Journal of Economic Interaction and Coordination 7 (2012) 2, pp. 125-144

It is well established that S-shaped curves describe the diffusion processes of many innovations quite well, but little insight on the mechanics of diffusion is achieved by simple curve fitting. We propose an evolutionary model of the diffusion process, focusing on the characteristics of...

Persistent link: https://www.econbiz.de/10010593430

Who replaces whom? Local versus non-local replacement in social and evolutionary dynamics

Banisch, Sven; Araujo, Tanya - ISEG - School of Economics and Management, Department … - 2012

In this paper, we inspect well-known population genetics and social dynamics models, interacting individuals, while participating in self-organizing process, give rise to the emergence of complexe behaviors and patterns. While one main focus in population genetics is on the adaptive behavior of...

Persistent link: https://www.econbiz.de/10010559032