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Recent work on complex adaptive systems for modeling financialmarkets is surveyed. Financia1 markets areviewed as evolutionary systems between different, competing tradingstrategies. Agents are boundedly rational inthe sense that they tend to follow strategies that have performedwell, according...
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Recent advances in evolutionary theory have important implications for environmental economics. A short overview is …
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Evolutionary and environmental economics have a potentially close relationship. This paper reviews past and identifies potential applications of evolutionary concepts and methods to environmental economics. This covers a number of themes: resource use and ecosystem management; growth and...
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Using IUCN Red List of Threatened Species (2016v2) data, I calculate an expected extinction rate for the coming century that is 759 to 7,582 times the natural background rate. Extinction rates exceed the planetary boundary formulated by Rockström et al. (2009) nearly everywhere (521 out of 538...
Persistent link: https://www.econbiz.de/10011818309
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...
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