Network structure and N-dependence in agent-based herding models
We derive microscopic foundations for a well-known probabilistic herding model in the agent-based finance literature. While the model is quite robust with respect to behavioral heterogeneity, the network structure describing the very feasibility of agent interaction turns out to have a crucial and non-trivial impact on the macroscopic properties of the model.
Year of publication: |
2009
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Authors: | Alfarano, Simone ; Milakovic, Mishael |
Published in: |
Journal of Economic Dynamics and Control. - Elsevier, ISSN 0165-1889. - Vol. 33.2009, 1, p. 78-92
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Publisher: |
Elsevier |
Keywords: | CO2 D84 D85 G19 Herding Networks Mean-field approach N-dependence |
Saved in:
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