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network. Practices are not limited to the company level. They are involving suppliers, customers, government, society and …, sondern beeinflussen alle Akteure im Netzwerk, bspw. Lieferanten und Partner, sowie die Kunden, die Gesellschaft und den Staat …
Persistent link: https://www.econbiz.de/10014433931
may be a source of both stability and instability. …
Persistent link: https://www.econbiz.de/10010300808
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/10010325164
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/10010325401
We characterize the dynamic properties of Generalized Autoregressive Score (GAS) processes by identifying regions of the parameter space that imply stationarity and ergodicity. We show how these regions are affected by the choice of parameterization and scaling, which are key features of GAS...
Persistent link: https://www.econbiz.de/10010326396
This paper builds models of nonlinear dynamics in the aggregate investment and borrower net worth and uses them to study the causes and nature of endogenous credit cycles. The basic model has two types of projects: the Good and the Bad. The Bad is highly productive, but, unlike the Good, it...
Persistent link: https://www.econbiz.de/10010266314
Central bank communication plays an important role in shaping market participants' expectations. This paper studies a simple nonlinear model of monetary policy in which agents have incomplete information about the economic environment. It shows that agents' learning and the dynamics of the...
Persistent link: https://www.econbiz.de/10010283511
, each with its appropriate mechanism and background theory. The first one 'Acting In' structures organizational practices in …
Persistent link: https://www.econbiz.de/10014433941
This paper develops a formal model of exchange network stability that combines expected value theory (Friedkin 1995 …) with the economic literature on network dynamics. We identify stable networks up to size 8 for varying costs and … value theory. …
Persistent link: https://www.econbiz.de/10010312535
network structure. We provide a general characterization of both equilibrium networks and endogenous production choices, and … compare it to the efficient network architecture. We also allow for firms to differ in their technological characteristics …, investigate how this affects their propensity to collaborate and study the resulting network architecture. …
Persistent link: https://www.econbiz.de/10010316820