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Heterogeneous agent models : two simple case studies
Hommes, Cars H. - 2005
These notes review two simple heterogeneous agent models in economics and finance. The first is a cobweb model with rational versus naive agents introduced in Brock and Hommes (1997). The second is an asset pricing model with fundamentalists versus technical traders introduced in Brock and...
Persistent link: https://www.econbiz.de/10011343262
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Evolutionary analysis of the relationship between economic growth, environmental quality and resource scarcity
Bergh, Jeroen C. J. M. van den - 2003 - Rev.
Persistent link: https://www.econbiz.de/10011335230
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Complex evolutionary systems in behavioral finance
Hommes, Cars H.; Wagener, Florian Oskar Ottokar - 2008
Persistent link: https://www.econbiz.de/10003738986
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Optimal diversity in investments with recombinant innovation
Bergh, Jeroen C. J. M. van den; Zeppini-Rossi, Paolo - 2008
Persistent link: https://www.econbiz.de/10003774446
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Industry evolution : diversity, selection and the role of learning
Audretsch, David B.; Houweling, Patrick; Thurik, Adriaan R. - 1998
firms survive and others do not than does neoclassical economics. At the heart of the evolutionary theory isthe view that …
Persistent link: https://www.econbiz.de/10010533203
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Complex evolutionary systems in behavioral finance
Hommes, Cars H.; Wagener, Florian Oskar Ottokar - 2008
Traditional finance is built on the rationality paradigm. This chapter discusses simple models from an alternative approach in which financial markets are viewed as complex evolutionary systems. Agents are boundedly rational and base their investment decisions upon market forecasting heuristics....
Persistent link: https://www.econbiz.de/10011376458
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Evolutionary theories in environmental and resource economics : approaches and applications
Bergh, Jeroen C. J. M. van den; Gowdy, John M. - 1998
Recent advances in evolutionary theory have important implications for environmental economics. A short overview is …
Persistent link: https://www.econbiz.de/10011300568
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The microfoundations of macroeconomics : an evolutionary perspective
Bergh, Jeroen C. J. M. van den; Gowdy, John M. - 2000
, it has rarely focused on clarifying the micro-macro distinction in economic theory and modelling.The macroevolution … topicsincorporating ideas from evolutionary theory into economics are:economic exaptations, macroeconomic consequencesof institutions, and …
Persistent link: https://www.econbiz.de/10011303317
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The impact of environmental policy on foreign trade : Tobey revisited with a bilateral flow model
Beers, Cees van; Bergh, Jeroen C. J. M. van den - 2000
theory and modelling. The micro-macro debate is more developed in biology than in economics owing to a greater degree of … insights directly relevant for economic theory and ones that hinge on unique features of biological systems. We argue that both …
Persistent link: https://www.econbiz.de/10011303863
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Heterogeneous agent models in economics and finance
Hommes, Cars H. - 2005
This paper surveys work on dynamic heterogeneous agent models (HAMs) in economics and finance. Emphasis is given to simple models that, at least to some extent, are tractable by analytic methods in combination with computational tools. Most of these models are behavioral models with boundedly...
Persistent link: https://www.econbiz.de/10011343261