Since the start of the financial crisis in 2007, the debate on the proper level leverage of financial institutions has been flourishing. The paper addresses such crucial issue within the Eurace artificial economy, by considering the effects that different choices of capital adequacy ratios for...

This paper presents a tight relationship between evolutionary game theory and distributed intelligence models. After reviewing some existing theories of replicator dynamics and distributed Monte Carlo learning, we make formulations and proofs of the equivalence between these two models. The...

(WP 02/04 Clave pdf) The results of our model show that it would be advisable to undertake policies expressly aimed at the process of sustainable technological change in a way that is complementary to the conventional equilibrium oriented environmental policies. In short, the main objectives of...

In this tongue-in-cheek commentary the author takes a serious look at the problem of translating ethnographic conclusions into simple functions as a means to the end of building an agent-based simulation in the Netlogo language. Specifically, the goal is to take the simple fact that stories...

This paper contains an investigation on a particular kind of non-linear rational expectations equilibrium in financial markets. By adopting an agent based computational finance (ACF) paradigm we will analyze whether using real options theory in financial markets is useful. Do agents who...