In this paper, we study the behavior of innovation and imitation among a group of firms in a competitive industry. To survive, firms have two fundamental choices. They can choose to be innovative firms that develop cost-reducing technology by their own efforts. Alternatively, they can also...

Recently, the relation between neuroeconomics and agent-based computational economics (ACE) has become an issue concerning the agent-based economics community. Neuroeconomics can interest agent-based economists when they are inquiring for the foundation or the principle of the software-agent...

This paper formalizes observations made under agent-based artificial stock market models into a concrete hypothesis, which is called the Dinosaur Hypothesis. This hypothesis states that the behavior of financial markets constantly changes and that the trading strategies in a market need to...

This title brings together frontier research on complex economic systems, heterogeneous interacting agents, bounded rationality, and nonlinear dynamics in economics. The book contains the proceedings of the CEF2015 (21st Computing in Economics in Finance), held 20-22 June 2015 in Taipei, Taiwan,...

This paper investigates the systemic nature of methodological individualism. According to widespread belief, the notion of autonomy of the actor that is defended by methodological individualism is mistaken because it is incompatible with the study of society in terms of its organized structure....

This paper investigates the merging of the Austrian Approach and Hermeneutics under a new light. It defends a middle ground between the standpoint of the Austrian hermeneutists and that of their critics. The latter, especially Rothbard, considered hermeneutics to be incompatible with Austrian...

This article reinterprets Hayek’s cognitive psychology from the standpoint of the categories employed by phenomenological hermeneutics, and notably by Gadamer. Both Hayek and Gadamer agree on the idea that consciousness is the outcome of a process of interpretation that depends on a...