We build an agent-based model to study how coordination failures, credit constraints and unequal access to investment opportunities affect inequality and aggregate income dynamics. The economy is populated by households who can invest in alternative projects associated with different...

Vulnerability to manipulation is a threat to successful matching market design. However, some manipulation is often inevitable and the mechanism designer wants to compare manipulable mechanisms and pick the best. Real-life examples include reforms in the entry-level medical labor market in the...

Universal approximation functions are well known and studied in canonical mathematics. Here we theorize the existence of an independent class of universal approximation agents and agent-based models. We draw upon historical references from mathematical analysis, the development of machine...

Agent-based modeling tools commonly trade off usability against power and vice versa. On the one hand, full development environments like NetLogo feature a shallow learning curve, but have a relatively limited proprietary language. Others written in Python or Matlab, for example, have the...

Although some recent studies have provided fresh intellectual insights on the role of patent practitioners during the nineteenth century, they have largely overlooked the activity of these actors in international patenting and peripheral countries. This study will fill a gap in the existing...

Stock Market plays a vital role in the economy of every nation. Having a transparent market may boost the confidence of not only stock brokers but also that of investors. One of the major problems that make investors to shy away from the market is lack of transparency. Another Problem which...

The study proposes an agent-based model to investigate how adoption of climate smart agriculture (CSA) affects food security. The analysis investigates the role of social and ecological pressures (i.e. community network, climate change and environmental externalities) on the adoption of physical...

We propose an empirical test to depict possible endogenous cycles within Heterogeneous Agent Models (HAMs). We consider a 2-type HAM into a standard small-scale dynamic asset pricing framework. On the one hand, fundamentalists base their expectations on the deviation of fundamental value from...

Coastal flood risk is expected to increase as a result of climate change effects, such as sea level rise, and socio-economic growth. To support policy makers in making adaptation decisions, accurate flood risk assessments that account for the influence of complex adaptation processes on the...

We study information design settings where the designer controls information about a state, and there are multiple agents interacting in a game who are privately informed about their types. Each agent’s utility depends on all agents’ types and actions, as well as (linearly) on the state. To...