Advances in Artificial Economics [electronic resource] : The Economy as a Complex Dynamic System /
Bruun, Charlotte.editor.
Perceiving the economy as a complex dynamic system, generates a need for new tools for its study. As a constructive simulation method, Agent-Based Computational Economics (ACE) has in recent years proven its strength and extensive applicability. Fields of study are widely spread within economics, with a cluster around financial markets. This book is based on communications given at AE'2006 (Aalborg, Denmark) - the second symposium on Artificial Economics, and covers both wellknown questions of economics, like the existence of market efficiency, as well as new questions raised by the new tools, for example questions related to networks of social interaction.
International conference proceedings.
Includes bibliographical references.
Market Structure and Economic Behaviour -- Heterogeneous Beliefs Under Different Market Architectures -- The Allocative Effectiveness of Market Protocols Under Intelligent Trading -- Strategic Behaviour in Continuous Double Auction -- Market Efficiency and the Role of Speculation -- A Broad-Spectrum Computational Approach for Market Efficiency -- The Dynamics of Quote Prices in an Artificial Financial Market with Learning Effects -- Reduction of the Bullwhip Effect in Supply Chains Through Speculation -- Firm-Consumer Dynamics -- Co-evolutionary Market Dynamics in a Peaked Resource Space -- E-Consumers' Search and Emerging Structure of Web-Sites Coalitions -- Agent Based Modeling of Trust Between Firms in Markets -- Investigations into Schumpeterian Economic Behaviour Using Swarm -- Social Interaction - Network Effects -- The Wisdom of Networked Evolving Agents -- Artificial Multi-Agent Stock Markets: Simple Strategies, Complex Outcomes -- Market Polarization in Presence of Individual Choice Volatility -- Is Ignoring Public Information Best Policy? Reinforcement Learning in Information Cascade -- Social Interaction - Connectivity -- Complex Behaviours in Binary Choice Model with Global or Local Social Influence -- Dynamics of a Public Investment Game: from Nearest-Neighbor Lattices to Small-World Networks -- Social Norms, Cognitive Dissonance and Broadcasting: How to Influence Economic Agents -- Methodological Issues and Their Application -- Confronting Agent-Based Models with Data: Methodological Issues and Open Problems -- Equilibrium Return and Agents' Survival in a Multiperiod Asset Market: Analytic Support of a Simulation Model -- Explaining the Statistical Features of the Spanish Stock Market from the Bottom-Up.
Perceiving the economy as a complex dynamic system, generates a need for new tools for its study. As a constructive simulation method, Agent-Based Computational Economics (ACE) has in recent years proven its strength and extensive applicability. Fields of study are widely spread within economics, with a cluster around financial markets. This book is based on communications given at AE'2006 (Aalborg, Denmark) - the second symposium on Artificial Economics, and covers both wellknown questions of economics, like the existence of market efficiency, as well as new questions raised by the new tools, for example questions related to networks of social interaction.
Application software.
Economic theory.
Statistical physics.
Dynamical systems.
Game theory.
Finance.
Computer Appl. in Social and Behavioral Sciences.
Economic Theory/Quantitative Economics/Mathematical Methods.
Complex Systems.
Game Theory, Economics, Social and Behav. Sciences.
Finance, general.
Statistical Physics and Dynamical Systems.
Lecture notes in economics and mathematical systems