Since the internet have become popular to the public, a new simulation method, which involves a large number of people in the simulation process, has been enabled. In this paper, a macroeconomic data collection simulator on the internet, which can model a closed economic system by using such the...

Applied partial and general equilibrium models used to examine trade policy are almost universally sensitive to trade elasticities. Indeed, the Armington elasticity, the degree of substitution between domestic and imported goods, is a key behavioral parameter that drives the quantitative, and...

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 key parameter that determines the distributional impacts of a policy shift in general equilibrium models is the elasticity of substitution between capital and labor. Despite the importance of this parameter in applied modeling, its identification continues to pose a challenge. Given the...

Agent-based models of market dynamics must strike a compromise between the structural assumptions that represent the trading mechanism and the behavioral assumptions that describe the rules by which traders take their decisions. We present a structurally detailed model of an order- driven stock...

In this paper, we explore the effects of localised externalities introduced through interaction structures upon the properties of the simplest market model: the discrete choice model with a single homogeneous product and a single seller (the monopoly case). The resulting market is viewed as a...

This is a preliminary version of a paper prepared for the Tenth Michigan Public Utility Conference at Western Michigan University March 25--27, 1992. We describe the history, technology and cost structure of the Internet. We also describe a possible smart-market mechanism for pricing traffic on...

The hysteresis terminology has mainly been used in two fields of economics, unemplyment and international trade, with a different meaning however, involving either linear autoregressive macro behaviour or non- linear heterogenous mico behaviour. There may nonetheless be observational equivalence...

Until nowadays, the South-Mediterranean countries have focused on their strategic choice which consists in the creation of a Euro-Mediterranean Free Trade Area (FTA). Among the first participants in the constitution of this zone, is Tunisia, which signed an agreement of association with the...

This paper presents and interprets descriptive statistics generated from data obtained in a survey of clients of five microfinance organizations believed to be among the best in Bolivia. These lenders represent different combinations of organizational design, lending technology, and market area...