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This paper demonstrates the potential role of autonomous agents in economic theory. We first dispatch autonomous agents, built by genetic programming, to double auction markets. We then study the bargaining strategies discovered by them, and from there an autonomous-agent-inspired economic...
Persistent link: https://www.econbiz.de/10009143395
We propose a simple agent-based model of the political election prediction market which reflects the intrinsic feature of the prediction market as an information aggregation mechanism. Each agent has a vote, and all agents’ votes determine the election result. Some of the agents participate in...
Persistent link: https://www.econbiz.de/10009143396
In this paper, we study the self-coordination problem as demonstrated by the well-known El Farol problem (Arthur, 1994), which has later become what is known as the minority game in the econophysics community. While the El Farol problem or the minority game has been studied for almost two...
Persistent link: https://www.econbiz.de/10009143398
Persistent link: https://www.econbiz.de/10010941822
Arguably, of the many pioneering classics authored by Milton Friedman, it is his Presidential Address to the American Economic Association, in December, 1967, published as The Role of Monetary Policy in the AEA, in March, 1968, that may have had the greatest impact in serious policy circles. In...
Persistent link: https://www.econbiz.de/10010941823
Persistent link: https://www.econbiz.de/10010539804
Alberto Quadrio Curzio’s lifelong research efforts have been characterised by depth of vision, breadth of scholarship, a growing awareness of the need for sensitive mediation between theoretical analysis and empirical, policy oriented, concerns and, above all, the need for underpinning every...
Persistent link: https://www.econbiz.de/10010539805
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On this, the 20th anniversary of the untimely death of Krishna Bharadwaj, I try to reconsider some theoretical aspects of her fundamental contributions to capital theory by showing how applicably relevant they are, in modern contexts. Krishna Bharadwaj had an admirable mastery of Sraffian...
Persistent link: https://www.econbiz.de/10010539807
We outline, briefly, the role that issues of the nexus between noncomputability and unpredictability, on the one hand, and between undecidability and un-solvability, on the other, have played in Computable Economics. The mathematical underpinnings of Computable Economics are provided by...
Persistent link: https://www.econbiz.de/10010540770