Heterogenous Agents, Interactions and Economic Performance

✍ Scribed by F. Alkemade, J. A. La Poutré (auth.), Prof. Robin Cowan, Dr. Nicolas Jonard (eds.)

• Publisher: Springer-Verlag Berlin Heidelberg
• Year: 2003
• Tongue: English
• Leaves: 339
• Series: Lecture Notes in Economics and Mathematical Systems 521
• Edition: 1
• Category: Library

✦ Synopsis

In traditional economics models of perfect competition agent's interactions are all mediated through the market. Interactions are anonymous, global and indirect. This is a powerful model, but we see many instances in which one, and sometimes all, of the previous characteristics fail to hold true. The type of agent you are, or your identity, can affect the type of interaction we have, and most surely the relationship between micro-behaviour and macro-phenomena in non-trivial ways. This book contains a selection of papers presented at the 6th Workshop on Economics with Heterogenous Interacting Agents (WEHIA). The contributions show that work done in other fields like evolutionary biology, statistical mechanics, social network theory and others help us to understand the way in which economic systems operate. Virtually all of the papers presented in this volume draw on some aspect or other of these varied approaches to related problems.

✦ Table of Contents

Front Matter....Pages I-XIV
Front Matter....Pages 1-1
Heterogeneous, Boundedly Rational Agents in the Cournot Duopoly....Pages 3-17
Adaptive Coordination and Aggregate Efficiency in Minority Games....Pages 19-42
Heterogeneous Models with Learning and Homoclinic Bifurcations....Pages 43-59
Learning to Compete and Coordinate in a Complex World....Pages 61-74
A Model of Distributed Markets with Heterogeneous Agents....Pages 75-88
Front Matter....Pages 89-89
An Exact Physical Approach to Market Participation Models....Pages 91-103
Financial Fragility, Heterogeneous Agents’ Interaction, and Aggregate Dynamics....Pages 105-118
Heterogeneous Interacting Economic Agents and Stochastic Games....Pages 119-135
Modeling Behavioral Heterogeneity in Demand Theory....Pages 137-152
Front Matter....Pages 153-153
The Joint Dynamics of Networks and Knowledge....Pages 155-174
Stable Hedonic Networks....Pages 175-191
A Dynamic Model of Job Networking and Persistent Inequality....Pages 193-204
Bandwagon Effects on Female Labour Force Participation: An Application to the Netherlands....Pages 205-223
Interacting Agents and Continuous Opinions Dynamics....Pages 225-242
Front Matter....Pages 243-243
An Interacting-Agent Model of Financial Crises....Pages 245-258
Mean Field Effects and Interaction Cycles in Financial Markets....Pages 259-275
The Genoa Artificial Stock Market: Microstructure and Simulations....Pages 277-289
Front Matter....Pages 291-291
A Simple Quantity Adjustment Model of Economic Fluctuations and Growth....Pages 293-305
The Phillips Curve as an Attractor in a Dynamic Macroeconomic Model....Pages 307-321
Technical Progress in a Dynamic Input-Output Model with Heterogenous Labour....Pages 323-339
Back Matter....Pages 340-341

✦ Subjects

Economics general; Sociology, general