Cellular automata were used to model and to simulate phenomena in the area of physics, biology and medicine. In this paper it is now shown how the idea of cellular automata can be applied to optimization problems as well. As an example a cellular automaton is used as a basis for solving...

In this paper we make use of a unique dataset collected in the central train station of Kiel, Germany. A group ticket is used by individual proposers who search for co-travelers to share the ride with shortly before the train departure. The bargaining behavior resembles the Ultimatum game to the...

We study how income inequality affects monetary policy through the inequality-household debt channel. We design a minimal macro Agent-Based model that replicates several stylized facts, including two novel ones: falling aggregate saving rate and decreasing bankruptcies during the household's...

The paper exploits a simulation environment and its output indicators to compare the performance of "ex-ante" policy instruments across housing and social welfare domains. We create a progressive score to contrast six single and mixed policy instruments against a no-policy baseline. The multiple...

Can standard measures of industrial policy such as R&D subsidies or financial support for machine replacement be effective tools to reverse the current pattern of increasing market power and declining business dynamism? To answer this question we explore the effects of various industrial policy...

We develop an agent-based model in which heterogeneous and boundedly rational agents interact by trading a risky asset at an endogenously set price. Agents are endowed with balance sheets comprising the risky asset as well as cash on the asset side and equity capital as well as debt on the...