In this paper we investigate the effects of network topologies on asset price dynamics. We introduce network communications into a simple asset pricing model with heterogeneous beliefs. The agents may switch between several belief types according to their performance. The performance information...

We develop a system dynamics model of message-based communication, where the information-processing capacity of message recipients is limited. Profit-seeking broadcasters send messages, but only some of these messages are valuable to recipients. Recipients cannot determine whether or not a...

Our purpose here is to describe and illustrate in the simplest possible way a multiple-phase theory of economic growth and development that helps explain why human evolution has not been characterized by steady progress but by fluctuating growth and changing forms, sometimes progressing to...