Showing 1 - 10 of 55
Our work has been concerned with the numerical simulation of dynamic economies with heterogeneous agents and economic distortions. Recent research has drawn attention to inherent difficulties in the computation of competitive equilibria for these economies: A continuous Markovian solution may...
Persistent link: https://www.econbiz.de/10014204791
Using an updated version of the CWS model (introduced by Eyckmans and Tulkens in Resource and Energy Economics 2003), this paper intends to evaluate with numbers the respective merits of two competing notions of coalition stability in the standard global public goods model as customarily applied...
Persistent link: https://www.econbiz.de/10010312250
Using an updated version of the CWS model (introduced by Eyckmans and Tulkens in Resource and Energy Economics 2003), this paper intends to evaluate with numbers the respective merits of two competing notions of coalition stability in the standard global public goods model as customarily applied...
Persistent link: https://www.econbiz.de/10005385509
The use of American style equity options as hedging instrument has gained currency in recent times. This phenomenon devolves from the ever-expanding need by individuals, corporations and governments to hedge away their financial risks and the clarion call for derivative securities that give the...
Persistent link: https://www.econbiz.de/10012993420
Computing population moments for heterogeneous agent models is a necessary step for their estimation and evaluation. Computation based on Monte Carlo methods is usually time- and resource-consuming because it involves simulating a large sample of agents and potentially tracking them over time....
Persistent link: https://www.econbiz.de/10014278465
In this study we use a long run macroeconomic model for Austria to simulate the effects of aging on employment, output growth, and the solvency of the social security system. By disaggregating the population into six age cohorts and modelling sex specific participation rates for each cohort, we...
Persistent link: https://www.econbiz.de/10010293723
This paper surveys work on dynamic heterogeneous agent models (HAMs) in economics and finance. Emphasis is given to simple models that, at least to some extent, are tractable by analytic methods in combination with computational tools. Most of these models are behavioral models with boundedly...
Persistent link: https://www.econbiz.de/10010325401
Future market risk has always been a critical question in decision support processes. FORESIM is a simulation technique that models shipping markets (developed recently). In this paper we present the application of this technique in order to obtain useful information regarding future values of...
Persistent link: https://www.econbiz.de/10011725350
Simulationen können bei der Bestimmung kostenoptimaler Bestell- und Belieferungsan-forderungen unter Berücksichtigung nur mittel- bzw. langfristig beeinflussbarer Neben-bedingungen ein geeignetes Instrument sein. Vor dem Hintergrund des Sustainable Supply Chain Managements können zunehmend...
Persistent link: https://www.econbiz.de/10010291099
Recent natural and man-made disasters underscore the need of a resilient and agile disaster relief supply chain to mitigate the damages and save people’s lives. Optimization and simulation modeling have become powerful and useful tools to help decision makers tackle problems related to...
Persistent link: https://www.econbiz.de/10011110517