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returns prevail). In this paper, we introduce a new assumption about the generation of knowledge, which involves entropy, i … explored in scenarios of neoclassical and endogenous growth and it is able to justify endogenous fluctuations. Entropy in the … are observable for different degrees of entropy. Complete a-periodicity (chaos) is also found for particular values of an …
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volatility phenomenon is by using measures based on the concept of entropy. In this paper we investigate the long memory and …. Additionally, we compare the results from conditionally heteroscedastic models with those from the entropy measures. In the latter …, we examine Shannon entropy, Renyi entropy and Tsallis entropy. The results corroborate the previous evidence of nonlinear …
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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...
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