Landini, Simone; Gallegati, Mauro; Stiglitz, Joseph - In: Journal of Economic Interaction and Coordination 10 (2015) 1, pp. 91-118
Economic agents differ from physical atoms because of the learning capability and memory, which lead to strategic behaviour. Economic agents learn how to interact and behave by modifying their behaviour when the economic environment changes. We show that business fluctuations are endogenously...