We compare price dynamics of different market protocols (batch auction, continuous double auction and dealership) in an agent-based artificial exchange. In order to distinguish the effects of market architectures alone, we use a controlled environment where allocative and informational issues...

A simple agent-based model of business units lending money to one another is sufficient to understand on what conditions avalanches of bankruptcies may arise. The model highlights the consequences of specialisation into money lending as well as the impact of preferential lending relations.

The $-Game was recently introduced as an extension of the Minority Game. In this paper we compare this model with the well know Minority Game and the Majority Game models. Due to the inter-temporal nature of the market payoff, we introduce a two step transaction with single and mixed group of...

The paper analyses the role of capital structure of firm on industry dynamics. Empirical evidence shows that policy interventions can alter for some the frims�cost of the capital. As a result firms on average are overcapitalized with a low capital productivity. Moreover, the market in which...

Industrial districts are complex systems based on an evolutionary network of interactions among heterogeneous, functionally integrated, complementary and localised firms. The paper describes an agent-based model that allows to investigate some theoretical hypotheses on the relation among...

This paper considers the relationship between agent-based modeling and economic decision-making experiments with human subjects. Both approaches exploit controlled ``laboratory'' conditions as a means of isolating the sources of aggregate phenomena. Research findings from laboratory studies of...

We introduce neighborhood models that account for local spatial effects in Galam's model [1] of minority opinion spreading. This model describes the spread of a minority opinion, incorporating absic mechanisms of social inertia, resulting in democratic rejection of social reforms initially...

The minority game (MG), which is intrinsically associated with financial markets, is an agent-based model of a competing population with limited resources. We find that the fluctuation features of MG in crowded region are more similar to real market than that of in perfect cooperation region. So...

The self-organization in cooperative regimes in a simple mean-field version of a model based on “selfish” agents which play the Prisoner's Dilemma (PD) game is studied. The agents have no memory and use strategies not based on direct reciprocity nor “tags”. Two variables are assigned to...