Showing 1 - 10 of 16
The aim of this paper is to empirically validate the agent-based macroeconomic model of Gaffeo et al. [2008]. We show that the microsimulated version of the model is able to replicate actual data with a satisfactory degree of precision. From a theoretical point of view, our validation approach...
Persistent link: https://www.econbiz.de/10010986926
In this paper we analyze the size distribution of Italian firms by age. In other words, we want to establish whether the way that the size of firms is distributed varies as firms become old. As a proxy of size we use capital. In [L.M.B. Cabral, J. Mata, On the evolution of the firm size...
Persistent link: https://www.econbiz.de/10010873545
We discuss a special Pólya lattice model to study cascading failures of firms in a simple industrial economy. In particular, every firm is represented by a Pólya-like urn, whose reinforcement is function of time, of the neighboring urns and their compositions, and of a random variable...
Persistent link: https://www.econbiz.de/10011010873
Persistent link: https://www.econbiz.de/10005145474
We examine the Boulogne wholesale fish market, analysing the structure of the trading network between sellers and buyers. Differently from other works in the literature, our analysis indicates a significant amount of ‘bilateral loyalty’ seller--buyer. Loyalty is from buyers to a few sellers...
Persistent link: https://www.econbiz.de/10010548699
In this paper we deal with the validation of an agent-based model and, in particular, with the technical validation process, that is to say all the set of test and methods used to analyze if the results of a simulation agree with reality. Today, thanks to some important studies, validation...
Persistent link: https://www.econbiz.de/10005132620
Persistent link: https://www.econbiz.de/10005701738
Pareto distributions, and power laws in general, have demonstrated to be very useful models to describe very different phenomena, from physics to finance. In recent years, the econophysical literature has proposed a large amount of papers and models justifying the presence of power laws in...
Persistent link: https://www.econbiz.de/10010662894
In this paper we propose a new nonparametric approach to interacting failing systems (FS), that is systems whose probability of failure is not negligible in a fixed time horizon, a typical example being firms and financial bonds. The main purpose when studying a FS is to calculate the...
Persistent link: https://www.econbiz.de/10008763461
Extreme shock models have been introduced in Gut and Hüsler (1999) to study systems that at random times are subject to a shock of random magnitude. These systems break down when the shock overcomes a given resistance level. In this paper we propose an alternative approach to extreme shock...
Persistent link: https://www.econbiz.de/10008868786