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This book pursues a nonlinear approach in considering both chaotic dynamical models and agent-based simulation models of economics, as well as their dynamical behaviors. Three key concepts arising in this context are “nonlinearity,” “bounded rationality” and “heterogeneity,” which...
Persistent link: https://www.econbiz.de/10013341702
Introduction -- Technological Progress: Logistic Growth or Singularity -- Artificial Intelligence -- Artificial Happiness -- Issues in Artificial Intelligence -- Artificial Intelligence in Economics: ACE -- Economics of Artificial Intelligence -- State of the Art, Challenges for AGI
Persistent link: https://www.econbiz.de/10014016651
Markets and Trading -- Agent’s Minimal Intelligence Calibration for Realistic Market Dynamics -- Trading on Marginal Information -- Stylized Facts Study through a Multi-Agent Based Simulation of an Artificial Stock Market -- Auctions -- A Variable Bid Increment Algorithm for Reverse English...
Persistent link: https://www.econbiz.de/10013522840
Persistent link: https://www.econbiz.de/10013522772
The field of artificial economics (AE) embraces a broad range of methodologies relying on computer simulations in order to model and study the complexity of economic and social phenomena. The overarching principle of AE is the analysis of aggregate properties of artificial economies populated by...
Persistent link: https://www.econbiz.de/10014016109
This book offers valuable insights into the management of uncertainty and business enterprises risk. Propelled by clear construct and communication, Nishimura introduces an innovate model (COLC) that embodies forward-looking, globalized understandings of how managers can exploit profit...
Persistent link: https://www.econbiz.de/10012395864
This open access book analyzes and seeks to consolidate the use of robust quantitative tools and qualitative methods for the design and assessment of energy and climate policies. In particular, it examines energy and climate policy performance and associated risks, as well as public acceptance...
Persistent link: https://www.econbiz.de/10012397019
Managing Uncertainty, Mitigating Risk proposes that financial risk management broaden its approach, maintaining quantification where possible, but incorporating uncertainty. The author shows that by using broad quantification techniques, and using reason as the guiding principle, practitioners...
Persistent link: https://www.econbiz.de/10012397543
This textbook offers a comprehensive analysis of medical decision making under uncertainty by combining Test Information Theory with Expected Utility Theory. The book shows how the parameters of Bayes’ theorem can be combined with a value function of health states to arrive at informed test...
Persistent link: https://www.econbiz.de/10012397779
In this book, experts discuss whether volatility, uncertainty, complexity and ambiguity (VUCA) represent a challenge or a business opportunity. More intense debates on global climate change, increased turbulence in financial quarters, increased job insecurity and high levels of stress at the...
Persistent link: https://www.econbiz.de/10012398241