Ebook: Advances in Artificial Economics: The Economy as a Complex Dynamic System

Springer, 2006. — 310 p. 93 illus. — ISBN: 3540372490, 9783540372493Series: Lecture Notes in Economics and Mathematical Systems, Vol. 584
This book is based on communications given at AE’2006 (Aalborg, Denmark) – the second symposium on Artificial Economics. Perceiving the economy as a complex dynamic system demands new tools for its study. As a constructive simulation method, Agent-Based Computational Economics (ACE) has in recent years proven its strength and extensive applicability. Fields of study are widely spread within economics, with a cluster around financial markets. Coverage in this volume extends both to well known questions of economics, like the existence of market efficiency, and to new questions raised by the new analytical tools, for example questions related to networks of social interaction.
Keywords » Agent-Based Computational Economics - Computational Game Theory - Finance - Market Modelling - Network EconomicsContents:
Market Structure and Economic Behaviour. - Market Efficiency and the Role of Speculation. - Firm-Consumer Dynamics. - Social Interaction - Network Effects. - Social Interaction - Connectivity. - Methodological Issues and Their Application.