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Chapter 18 Agent Learning Representation: Advice on Modelling Economic Learning

Brenner, Thomas - In: Handbook of computational economics : volume 2, …, (pp. 895-947). 2006

This chapter presents an overview of the existing learning models in the economic literature. Furthermore, it discusses the choice of models that should be used under various circumstances and how adequate learning models can be chosen in simulation approaches. It gives advice for using the many...

Persistent link: https://www.econbiz.de/10014024387

Geometric methods for finite rational inattention

Armenter, Roc; Müller-Itten, Michèle; Stangebye, … - In: Quantitative economics : QE ; journal of the … 15 (2024) 1, pp. 115-144

We present a geometric approach to the finite Rational Inattention (RI) model, recasting it as a convex optimization problem with reduced dimensionality that is well suited to numerical methods. We provide an algorithm that outperforms existing RI computation techniques in terms of both speed...

Persistent link: https://www.econbiz.de/10014496939

Some evolutionary foundations for price level rigidity

Saint-Paul, Gilles - 2002

alternative rules of thumb. In the model, firms must set their prices in face of aggregate demand shocks. Their payoff depends on … the level of aggregate demand, as well as on their own price and their neighbor s price. The latter assumption captures … rule that firms can easily adopt, the economy does not converge to the REE for highly autocorrelated aggregate demand …

Persistent link: https://www.econbiz.de/10011409938

Noisy Bayesian Learning in an Oligopolistic Newsvendor Market with Demand Inertia

Mauersberger, Felix - 2020

facing the demand by customers, and that their products are perishable. Experimental studies have documented that individuals …

Persistent link: https://www.econbiz.de/10012846870

Simulating the New Economy

Eliasson, Gunnar; Johansson, Dan - 2013

The Information Technology (IT), the Internet, or the Computing & Communications (C&C) technology revolution has been central to the economic discussion for several decades. Before the mid-1990s the catchword was the “productivity paradox” coined by Robert Solow, who stated in 1987 that...

Persistent link: https://www.econbiz.de/10014153584

Chapter 31 Computational Laboratories for Spatial Agent-Based Models

Dibble, Catherine - In: Handbook of computational economics : volume 2, …, (pp. 1511-1548). 2006

An agent-based model is a virtual world comprising distributed heterogeneous agents who interact over time. In a spatial agent-based model the agents are situated in a spatial environment and are typically assumed to be able to move in various ways across this environment. Some kinds of social...

Persistent link: https://www.econbiz.de/10014024374

A Clustering Algorithm for Financial Time Series Correlation Quickest Hub Discovery Mixing Time Evolution and Random Matrix Theory

Rodriguez Dominguez, Alejandro - 2022

correlation structures that geometrically represents solutions from asymptotic Random Matrix theory (RMT) consistently, and allows …

Persistent link: https://www.econbiz.de/10014084356

Efficient ways of communicating time-of-use electricity tariffs in Ireland: plain and simple

Barjaková, Martina; Belton, Cameron; Purcell, Karl; … - 2021

With the ongoing rollout of smart meters in Ireland, time-of-use (ToU) tariffs are currently being introduced as a new way to pay for electricity. Such tariffs can bring important benefits to both consumers and society, in terms of reduced electricity bills and CO2 emissions, respectively. At...

Persistent link: https://www.econbiz.de/10012584066

A Surprising Equivalence between Consolation of Philosophy and Methodology for Societal Complexity

Bulz, Nicolae - 2013

There is the possibility to affirm on a very surprising (methodological) equivalence, beyond a historian space-time, between two important attempts toward the forever difficult "problem solving": I: Consolation of Philosophy, by Roman philosopher and mathematician Boetius (ca. 480–524 or 525),...

Persistent link: https://www.econbiz.de/10014160358

An understanding of influence on human behavior

Popp, Alexandru W. A. - Volkswirtschaftliche Fakultät, … - 2009

We describe a candid model for learning, why and how learning transpires. We investigate the original as well as the leading conditions of the learning process. We provide an insight into the realm of beliefs and their formation, their interaction and influence with the actor’s environment. In...

Persistent link: https://www.econbiz.de/10005015595