The continuous double auction (CDA) is a well-studied, widely used institution for trading. But there is no generally accepted theory about the dynamics of price formation within the first period that has survived experimental testing. In this paper, we describe a model of behavior (called...

this study investigates the design of incentive compensation and agents’ behaviors in product innovation. We develop a dynamic control model in which product quality improvement depends on both instantaneous investment and manager’s innovative effort. Moreover, we consider the sensitivity of...

This study examines the potential impact of a hypothetical but plausible migration scenario on Austria’s economy and labour market, inspired by Austria’s experience in 2015. Using the agent-based macroeconomic model developed by Poledna et al. (2023), the study explores the detailed labour...

The creation and licensing of patents is a dynamic process in which the impact of law cannot be understated. While agent-based modeling has been used to simulate the diffusion of innovations and the effects of patents on innovations, it has not yet been applied to simulate the effects of law on...

In this work, we ask whether tradable emissions permits, based on the cap-and-trade principle, provide better climate change and economic projections than alternative regulations for GHG emissions, such as operational permits which are commonly used to mitigate non-GHG emissions (prevention...

World food markets are susceptible to systemic shocks due to a concentration of production in a few main breadbasket regions, strong import dependencies of many developing countries, and frequent unilateral and uncoordinated policy interventions such as export restrictions.The well-established...

Climate change is a major global challenge today. To assess how policies may lead to mitigation, economists have developed Integrated Assessment Models, however, most of the equilibrium based models have faced heavy critiques. Agent-based models have recently come to the fore as an alternative...

Energy efficiency can help facing the climate crises. Yet the energy intensity has decreased more slowly than it is required to achieve climate goals. Based on this premise, we build an agent-based model to study the effects of different policies on energy efficiency. Policies analysed range...

Distributed manufacturing has been an important trend in the industrial field, in which the production cost can be reduced through the cooperation among factories. In the real production, the random job arrivals are regular for the enterprises with daily delivered production tasks. In the paper,...

With the development and changes of industry and market demand, the personalized customization production mode with small batch and multiple batches has gradually become a new production mode. This makes production environment become more complex and dynamic. However, traditional production...