For two and a half decades the US has accumulated large current account deficits, mainly financed (though to different extents at different times) by the savings of the sluggish European and Japanese economies, of the fast-growing Asian countries and of the oil-producing nations. This peculiar...

Textbook discussions of discrete choice modelling focus on binomial and multinomial choice models in which agents select a single response. We consider the situation of non-exclusive multinomial choice. The widely used Marginal Logit Model imposes independence and has other disadvantages. We...

This work aims at exploring the possibilities offered by agent-base modelling techniques in evaluating the outreaching effects of innovation policy measures. This aim is accomplished by modelling and simulating the organisations’ and systems’ reactions to the introduction of...

Our purpose in this paper is to provide a different perspective on the by now widely discussed idea of innovation systems. This perspective is designed to cohere with the problems faced by innovation policy makers as they seek to pursue the challenge of creating wealth from knowledge and to...

This paper formulates a bio-economic model that specifies the sequentiality of allocative choice on a migratory beekeeping farm in discrete form. It is assumed that the modeled farm operates in conditions of certainty and, allocating an apiary to forage sites, produces only two marketable...

Why did some countries in the Euro Zone between 2010 and 2012 - until the European Central Bank stepped in - experience a dramatic vicious circle between hard austerity plans and rising default risk premia? Were such plans too small, and hence non credible, or too large, and hence non...

In this paper, I investigate the impact of three classes of investors – money managers, swap providers and commercial operators – on the level and volatility of WTI prices over the period 2006-2010. I find a significant volatility-reducing impact of money manager activity. This is true of...