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Emergent Results of Artificial Economics

  • Book
  • © 2011

Overview

Editors:
  1. Sjoukje Osinga

    1. , Department LDI/bode 143, Wageningen University, Wageningen, Netherlands

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  2. Gert Jan Hofstede

    1. , Department LDI/bode 143, Wageningen University, Wageningen, Netherlands

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    You can also search for this editor in PubMed   Google Scholar

  3. Tim Verwaart

    1. LEI, Wageningen UR, Den Haag, Netherlands

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    You can also search for this editor in PubMed   Google Scholar

  • New original papers in the rapidly developing field of artificial economics
  • Interdisciplinary approach between computational economics and computer science
  • Theory and applications of artificial markets

Part of the book series: Lecture Notes in Economics and Mathematical Systems (LNE, volume 652)

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Table of contents (17 chapters)

  1. Front Matter

    Pages i-xx
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  2. Humans in the System

    1. Front Matter

      Pages 1-1
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    2. Multi-Agent Stochastic Simulation for the Electricity Spot Market Price

      • Matylda JabÅ‚oÅ„ska, Tuomo Kauranne
      Pages 3-14

    3. Referral Hiring and Labor Markets: a Computational Study

      • Samuel Thiriot, Zach Lewkovicz, Philippe Caillou, Jean-Daniel Kant
      Pages 15-25

    4. An Agent-Based Information Management Approach to Smoothen the Pork Cycle in China

      • Sjoukje A. Osinga, Mark R. Kramer, Gert Jan Hofstede, Adrie J. M. Beulens
      Pages 27-38

  3. Financial Markets

    1. Front Matter

      Pages 39-39
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    2. Do Capital Requirements Affect Long-Run Output Trends?

      • Andrea Teglio, Marco Raberto, Silvano Cincotti
      Pages 41-52

    3. Modeling the Textbook Fractional Reserve Banking System.

      • Jacky Mallett
      Pages 53-64

    4. Learning to Trade in an Unbalanced Market

      • Florian Hauser, Marco LiCalzi
      Pages 65-76

  4. Organization design

    1. Front Matter

      Pages 77-77
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    2. Effectivity of Multi Criteria Decision-Making in Organisations: Results of an Agent-Based Simulation

      • Stephan Leitner, Friederike Wall
      Pages 79-90

    3. The Problem of Emergency Department Overcrowding: Agent-Based Simulation and Test by Questionnaire

      • Roger A. McCain, Richard Hamilton, Frank Linnehan
      Pages 91-102

    4. An Agent-based Model of Food Safety Practices Adoption

      • Tim Verwaart, Natalia I. Valeeva
      Pages 103-114

  5. Macroeconomics

    1. Front Matter

      Pages 115-115
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    2. Why Should the Economy be Competitive?

      • Hugues Bersini, Nicolas van Zeebroeck
      Pages 117-128

    3. Economic Growth by Waste Generation: the Dynamics of a Vicious Circle

      • Benoît Desmarchelier, Faridah Djellal, Faïz Gallouj
      Pages 129-138

    4. Using Agentization for Exploring Firm and Labor Dynamics

      • Omar A. Guerrero, Robert L. Axtell
      Pages 139-150

  6. Market dynamics

    1. Front Matter

      Pages 151-151
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    2. Firm Entry Diversity, Resource Space Heterogeneity and Market Structure

      • César García-Díaz, Arjen van Witteloostuijn
      Pages 153-164

    3. Time-Dependent Trading Strategies in a Continuous Double Auction

      • Shira Fano, Paolo Pellizzari
      Pages 165-176
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Keywords

About this book

Artificial economics is a computational approach that aims to explain economic systems by modeling them as societies of intelligent software agents. The individual agents make autonomous decisions, but their actual behaviors are constrained by available resources, other individuals' behaviors, and institutions. Intelligent software agents have communicative skills that enable simulation of negotiation, trade, reputation, and other forms of knowledge transfer that are at the basis of economic life. Incorporated learning mechanisms may adapt the agents' behaviors. In artificial economics, all system behavior is generated from the individual agents' simulated decisions; no system level laws are a priori imposed. For instance, price convergence and market clearing may emerge, but not necessarily. Thus, artificial economics facilitates the study of the mechanisms that make the economy function. This book presents a selection of peer-reviewed papers addressing recent developments in this field between economics and computer science.

Editors and Affiliations

  • , Department LDI/bode 143, Wageningen University, Wageningen, Netherlands

    Sjoukje Osinga, Gert Jan Hofstede

  • LEI, Wageningen UR, Den Haag, Netherlands

    Tim Verwaart

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