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"How Economists Can Get Alife: Abbreviated Version"
Tesfatsion, Leigh - EconWPA - 1995
Artificial life (alife) is the bottom-up study of basic phenomena commonly associated with living agents, such as self- replication, evolution, adaptation, self-organization, exploitation, competition, cooperation, and social network formation. Alife complements the traditional biological and...
Persistent link: https://www.econbiz.de/10005076914
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The Hayek Hypothesis and the Production Decision: An Experimental Analysis
Janmaat, John - EconWPA - 2005
against market risk. A coordination problem is also created, interfering with the ability of the system to converge on the …
Persistent link: https://www.econbiz.de/10005125591
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Editorial Policy and Editorial, to appear at the front of the first issue of the new Cambridge University Press journal, Macroeconomic Dynamics.
Barnett, William A. - EconWPA - 1997
This statement outlines the objectives and policies of the new journal, Macroeconomic Dynamics, which is dedicated to the advancement of macroeconomics as a science. This Editorial is to appear at the front of the first issue of that journal and is copyright by Cambridge University Press.
Persistent link: https://www.econbiz.de/10005126416
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A Computational Laboratory for Evolutionary Trade Networks
McFadzean, David; Stewart, Deron; Tesfatsion, Leigh - EconWPA - 2000
This study presents, motivates, and illustrates the use of a computational laboratory for the investigation of evolutionary trade network formation among strategically interacting buyers, sellers, and dealers. The computational laboratory, referred to as the Trade Network Game Laboratory (TNG...
Persistent link: https://www.econbiz.de/10005134562
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Why Every Economist Should Learn Some Auction Theory
Klemperer, Paul - EconWPA - 2000
the strong connections between auction theory and "standard" economic theory, and argue that auction-theoretic tools and …
Persistent link: https://www.econbiz.de/10005135125
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Gale-Shapley Matching in an Evolutionary Trade Network Game
Tesfatsion, Leigh - EconWPA - 1998
This study investigates the performance of Gale-Shapley matching in an evolutionary market context. Computational experimental findings are reported for an evolutionary match-and-play trade network game in which resource-constrained traders repeatedly choose and refuse trade partners in...
Persistent link: https://www.econbiz.de/10005407577
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Market Power and Efficiency in a Computational Electricity Market with Discriminatory Double-Auction Pricing
Nicolaisen, James; Petrov, Valentin; Tesfatsion, Leigh - EconWPA - 2000
This study reports experimental market power and efficiency outcomes for a computational wholesale electricity market operating in the short run under systematically varied concentration and capacity conditions. The pricing of electricity is determined by means of a clearinghouse double auction...
Persistent link: https://www.econbiz.de/10005412999
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Learning in Economics: Where Do We Stand?
Slembeck, Tilman - EconWPA - 2000
critically compares theory with aspects of learning in real-life and with evidence from laboratory experiments, and argues that … most customary approaches lack criteria for their applicability. Hence, there is a need for a theory that includes criteria … when to employ which theory or which element(s) of existing theories contingent on the situation or environment in question …
Persistent link: https://www.econbiz.de/10005413284
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Informational cascades in the laboratory: Do they occur for the right reasons?
Huck, Steffen; Oechssler, Joerg - EconWPA - 1999
Recently, the theory of informational cascades has been tested in an experiment by Anderson and Holt (1997) who report … that their data support the theory amazingly well. In this note we report on an experiment designed to find out whether …
Persistent link: https://www.econbiz.de/10005556678
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Structure, Behavior, and Market Power in an Evolutionary Labor Market with Adaptive Search
Tesfatsion, Leigh - EconWPA - 2000
This study uses an agent-based computational labor market framework to experimentally study the relationship between job capacity, job concentration, and market power. Job capacity is measured by the ratio of potential job openings to potential work offers, and job concentration is measured by...
Persistent link: https://www.econbiz.de/10005561498