Computational Methods in Economic Dynamics

✍ Scribed by Herbert Dawid, Willi Semmler (auth.), Herbert Dawid, Willi Semmler (eds.)

• Publisher: Springer-Verlag Berlin Heidelberg
• Year: 2011
• Tongue: English
• Leaves: 224
• Series: Dynamic Modeling and Econometrics in Economics and Finance 13
• Edition: 1
• Category: Library

✦ Synopsis

This volume is centered around the issue of market design and resulting market dynamics. The economic crisis of 2007-2009 has once again highlighted the importance of a proper design of market protocols and institutional details for economic dynamics and macroeconomics. Papers in this volume capture institutional details of particular markets, behavioral details of agents' decision making as well as spillovers between markets and effects to the macroeconomy. Computational methods are used to replicate and understand market dynamics emerging from interaction of heterogeneous agents, and to develop models that have predictive power for complex market dynamics. Finally treatments of overlapping generations models and differential games with heterogeneous actors are provided.

✦ Table of Contents

Front Matter....Pages I-VIII
Editorial: Computational Methods in Economic Dynamics....Pages 1-2
Front Matter....Pages 3-3
Allocative Efficiency and Traders’ Protection Under Zero Intelligence Behavior....Pages 5-28
Using Software Agents to Supplement Tests Conducted by Human Subjects....Pages 29-56
Diversification Effect of Heterogeneous Beliefs....Pages 57-75
Can Investors Benefit from Using Trading Rules Evolved by Genetic Programming? A Test of the Adaptive Efficiency of U.S. Stock Markets with Margin Trading Allowed....Pages 77-108
Bankruptcy Prediction: A Comparison of Some Statistical and Machine Learning Techniques....Pages 109-131
Front Matter....Pages 133-133
Testing Institutional Arrangements via Agent-Based Modeling: A U.S. Electricity Market Application....Pages 135-158
Energy Shocks and Macroeconomic Stabilization Policies in an Agent-Based Macro Model....Pages 159-181
The Impact of Migration on Origin Countries: A Numerical Analysis....Pages 183-195
An Algorithmic Equilibrium Solution for n -Person Dynamic Stackelberg Difference Games with Open-Loop Information Pattern....Pages 197-214

✦ Subjects

Economic Theory; Computer Appl. in Social and Behavioral Sciences; Game Theory/Mathematical Methods; Operations Research/Decision Theory