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Heterogeneous Agent Models in Economics and Finance

Hommes, Cars H. - 2005

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

Chapter 23 Heterogeneous Agent Models in Economics and Finance

Hommes, Cars H. - In: Handbook of computational economics : volume 2, …, (pp. 1109-1186). 2006

This chapter 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/10014024382

Heterogeneous agent models in economics and finance

Hommes, Cars H. - 2005

Persistent link: https://www.econbiz.de/10011343261

Problems in the Numerical Simulation of Models with Heterogeneous Agents and Economic Distortions

Peralta-Alva, Adrian; Santos, Manuel - 2009

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

Implementation rationality : the nexus of psychology and economics at the RAND logistics systems laboratory, 1956-1966s

Klein, Judy L. - 2015 - Version 3

In October 1956, the RAND Corporation establis hed the Logistics Systems Laboratory (LSL) with the goal of using simulation to translate the broad findings of normative microeconomics into detailed, implementable pr ocedures for US Air Force oper ations. The laboratory was housed in the training...

Persistent link: https://www.econbiz.de/10011600635

Simulating with Rice Coalitionally Stable Burden Sharing Agreements for the Climate Change Problem

Tulkens, Henry; Eyckmans, Johan - 2021

In this paper we test empirically with the Nordhaus and Yang (1996) RICE model the core property of the transfer scheme advocated by Germain, Toint and Tulkens (1997). This scheme is designed to sustain full cooperation in a voluntary international environmental agreement by making all countries...

Persistent link: https://www.econbiz.de/10013321371

Expert Knowledge in Land Use Planning : The Role of Information in Workshops, Scenario Building, Simulation Modelling and Decision Making

Silva, Elisabete A. - 2013

What role does expert information play in the planning process, and how can the role be enhanced by integrating information management and simulation modelling tools into a participatory decision-making exercise? We examine these questions through a survey of pertinent planning literature, and a...

Persistent link: https://www.econbiz.de/10014054512

A METHODOLOGY TO STABILIZE THE SUPPLY CHAIN

Sarmiento, Alfonso - 2010

development of a methodology that, based on the concepts of asymptotic stability and accumulated deviations from equilibrium (ADE … tool for practitioners specializing in the stability analysis of systems with complex dynamics, especially those with … particular state variable of the system, such as inventory, implies asymptotic stability for that variable. The stabilization …

Persistent link: https://www.econbiz.de/10009431072

General equilibrium analysis on arms exports to developing countries in conflict

Fukiharu, T. - In: Mathematics and Computers in Simulation (MATCOM) 68 (2005) 5, pp. 439-448

the decline of pM on the “existence” of solution to the game, its “stability”, and finally on the utility levels of two … countries in the “stability” case. By simulation we show that as pM falls, the number of “non-existence” cases increases, the … levels of two countries” cases among “stability” cases falls. In Section 4, assuming that the above countries have domestic …

Persistent link: https://www.econbiz.de/10011050903

Stability of the World Trade Web over time – An extinction analysis

Foti, Nicholas J.; Pauls, Scott; Rockmore, Daniel N. - In: Journal of Economic Dynamics and Control 37 (2013) 9, pp. 1889-1910

can play an important role in the evaluation of the stability of economic systems. …

Persistent link: https://www.econbiz.de/10011051898