Emergent Results of Artificial Economics

edited by Sjoukje Osinga, Gert Jan Hofstede, Tim Verwaart

Artificial economics is a computational approach that aims to explain economic systems by modeling them as societies of intelligent software agents. The individual agents make autonomous decisions, but their actual behaviors are constrained by available resources, other individuals' behaviors, and institutions. Intelligent software agents have communicative skills that enable simulation of negotiation, trade, reputation, and other forms of knowledge transfer that are at the basis of economic life. Incorporated learning mechanisms may adapt the agents' behaviors. In artificial economics, all system behavior is generated from the individual agents' simulated decisions; no system level laws are a priori imposed. For instance, price convergence and market clearing may emerge, but not necessarily. Thus, artificial economics facilitates the study of the mechanisms that make the economy function. This book presents a selection of peer-reviewed papers addressing recent developments in this field between economics and computer science

MoreLess

Year of publication:	2011
Authors:	Osinga, Sjoukje A.
Other Persons:	Hofstede, Gert Jan (contributor) ; Verwaart, Tim (contributor)
Publisher:	Berlin, Heidelberg : Springer-Verlag Berlin Heidelberg
Subject:	Agentenbasierte Modellierung \| Agent-based modeling \| Simulation \| Marktmechanismus \| Wirtschaftsmodell \| Autonomer Agent
Description of contents:	Preface -- Part I: Human in the System -- Part II: Financial Markets -- Part III: Organization Design -- Part IV: Macroeconomics -- Part V: Market Dynamics -- Part VI: Games Table of Contents [external.dandelon.com] ; Description [swbplus.bsz-bw.de] ; Description [zbmath.org]

Online Resource

Check full text access |

More access options

Check Google Scholar

In libraries world-wide (WorldCat)

In German libraries (KVK)

subito order

I need help

Extent:	Online-Ressource (XX, 212p. 61 illus, digital)
Series:	Lecture Notes in Economics and Mathematical Systems ; 652 SpringerLink / Bücher
Type of publication:	Book / Working Paper
Language:	English
Notes:	Includes bibliographical references Emergent Results of Artificial Economics; Preface; Acknowledgements; Contents; List of Contributors; Part I: Humans in the System; Multi-Agent Stochastic Simulation for the Electricity Spot Market Price; 1 Introduction; 2 Theoretical Framework; 2.1 Electricity Spot Market Price; 2.2 Animal Spirits in Financial Markets; 2.3 Capasso-Morale-Type Population Dynamics; 2.3.1 Momentum in Financial Markets; 3 Multi-Agent Simulations for Electricity Spot Market; 3.1 Data; 3.2 Mean-Reverting Jump Diffusion Ensemble Simulation; 3.3 Ensemble Simulation with Burgers'-Type Interaction; 4 Conclusions ReferencesReferral Hiring and Labor Markets: a Computational Study; 1 Introduction; 2 Model and Experimental Settings; 2.1 Labor Market Model; 2.2 Social Network Generation; 2.3 Experimental Settings; 3 Results; 3.1 Efficiency of Link Types; 3.2 Perfect Interactions, Weak Sensitivity to Networks' Structure; 3.3 Networks with Probabilistic Interactions; 4 Discussion; References; An Agent-Based Information Management Approach to Smoothen the Pork Cycle in China; 1 Introduction; 1.1 Information Management Objective; 2 Background Literature; 2.1 Pork Cycle in China 2.2 Interventions from Government2.3 Information Management Based Approach; 3 Research Questions; 4 Model; 4.1 Information Management Approach; 4.2 Research Models; 4.3 Decision to Restock; 4.4 Simulation Process; 4.5 Fourier Transformation; 5 Results; 6 Conclusion and Discussion; References; Part II: Financial Markets; Do Capital Requirements Affect Long-Run Output Trends?; Introduction; 1 The Eurace Credit Market Model; 1.1 Credit Demand; 1.2 Credit Supply; 1.3 Matching Demand and Supply of Credit; 2 The Computational Experiment; 3 Conclusions; Acknowledgement; References Modeling the Textbook Fractional Reserve Banking System.1 Introduction; 2 Textbook Description; 3 A Simple Model of the Banking System; 4 Results; 4.1 Textbook Description; 4.2 Regional Banking Model; 4.3 Evolution of the Money Multiplier; 5 Conclusion; References; Learning to Trade in an Unbalanced Market; 1 Introduction; 2 The Model; 3 Convergence to the Competitive Outcome; 4 The Evolution of Strategic Behavior; 4.1 Simultaneous Order Clearing; 4.2 Asynchronous Order Clearing; 5 Allocative Efficiency; References; Part III: Organization design Effectivity of Multi Criteria Decision-Making in Organisations: Results of an Agent-Based Simulation1 Introduction, Research Question and Research Method; 2 Simulation Model; 2.1 Model of Organisations and Options for Organisational Design; 2.2 The Representation of the Performance Landscapes; 2.3 Methods of Multi Criteria Decision Making; 3 Results; 3.1 Equal Weighting; 3.2 Schism Approaches; 3.3 Evaluation Across Multi Criteria Decision Making Methods; 4 Conclusion; References; The Problem of Emergency Department Overcrowding: Agent-Based Simulation and Test by Questionnaire 1 The Problem of Medical Emergency Department Overcrowding
ISBN:	978-3-642-21108-9 ; 978-3-642-21107-2
Other identifiers:	10.1007/978-3-642-21108-9 [DOI]
Classification:	Methoden und Techniken der Betriebswirtschaft ; Numerische Mathematik ; Kombinatorik, Graphentheorie
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014015369