Ebook: Artificial Economics and Self Organization: Agent-Based Approaches to Economics and Social Systems

This volume presents recent advances in the dynamic field of Artificial Economics and its various applications. Artificial Economics provides a structured approach to model and investigate economic and social systems. In particular, this approach is based on the use of agent-based simulations and further computational techniques. The main aim is to analyze the outcomes at the overall systems’ level as results from the agents’ behavior at the micro-level. These emergent characteristics of complex economic and social systems can neither be foreseen nor are they intended. The emergence rather makes these systems function. Artificial Economics especially facilitates the investigation of this emergent systems’ behavior. ​

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This volume presents recent advances in the dynamic field of Artificial Economics and its various applications. Artificial Economics provides a structured approach to model and investigate economic and social systems. In particular, this approach is based on the use of agent-based simulations and further computational techniques. The main aim is to analyze the outcomes at the overall systems’ level as results from the agents’ behavior at the micro-level. These emergent characteristics of complex economic and social systems can neither be foreseen nor are they intended. The emergence rather makes these systems function. Artificial Economics especially facilitates the investigation of this emergent system´s behavior. ​

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This volume presents recent advances in the dynamic field of Artificial Economics and its various applications. Artificial Economics provides a structured approach to model and investigate economic and social systems. In particular, this approach is based on the use of agent-based simulations and further computational techniques. The main aim is to analyze the outcomes at the overall systems’ level as results from the agents’ behavior at the micro-level. These emergent characteristics of complex economic and social systems can neither be foreseen nor are they intended. The emergence rather makes these systems function. Artificial Economics especially facilitates the investigation of this emergent system´s behavior. ​
Content:
Front Matter....Pages i-xv
Front Matter....Pages 1-1
The Missing Link: AB Models and Dynamic Microsimulation....Pages 3-15
Simulation Experiments and Significance Tests....Pages 17-28
Front Matter....Pages 29-29
A Stylized Software Model to Explore the Free Market Equality/Efficiency Tradeoff....Pages 31-40
Tax Enforcement in an Agent-Based Model with Endogenous Audits....Pages 41-53
Subprime Lending and Financial Inequality in an Agent-Based Model....Pages 55-67
Front Matter....Pages 69-69
Adaptive Trading for Anti-correlated Pairs of Stocks....Pages 71-80
Self-Organization of Decentralized Markets with Network Externality....Pages 81-94
Who Wins: Yoda or Sith? A Proof that Financial Markets Are Seldom Efficient....Pages 95-106
Emergence of Fair Offers in Ultimatum Game....Pages 107-118
Front Matter....Pages 119-119
An Agent-Based Investigation of the Probability of Informed Trading....Pages 121-132
Financial Forecasts Based on Analysis of Textual News Sources: Some Empirical Evidence....Pages 133-145
Trust in a Network of Investors and Startup Entrepreneurs....Pages 147-159
Banks and Their Contagion Potential: How Stable Is Banking System?....Pages 161-175
Front Matter....Pages 177-177
Phrasing and Timing Information Dissemination in Organizations: Results of an Agent-Based Simulation....Pages 179-190
On the Robustness of Coordination Mechanisms for Investment Decisions Involving ‘Incompetent’ Agents....Pages 191-203
Pack Light on the Move: Exploitation and Exploration in a Dynamic Environment....Pages 205-216
Front Matter....Pages 217-217
An Agent-Based Model of Access Uptake on a High-Speed Broadband Platform....Pages 219-231
Influence of Losing Multi-dimensional Information in an Agent-Based Model....Pages 233-244
Least Susceptible Networks to Systemic Risk....Pages 245-256