The Complex Networks of Economic Interactions

1. Front Matter

   Pages I-XI

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2. Econophysics

   1. Front Matter

      Pages 1-1

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   2. Five Years of Continuous-time Random Walks in Econophysics

      • Enrico Scalas

      Pages 3-16

   3. Why Macroeconomic Price Indices are Sluggish in Large Economies ?

      • Masanao Aoki, Hiroshi Yoshikawa

      Pages 17-36

   4. Growth Volatility Indices

      • Davide Fiaschi, Andrea Mario Lavezzi

      Pages 37-59

   5. Financial Fragility and Scaling Distributions in the Laboratory

      • Giovanna Devetag, Edoardo Gaffeo, Mauro Gallegati, Gianfranco Giulioni

      Pages 61-76

3. Complex Economic Network

   1. Front Matter

      Pages 77-77

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   2. Heterogeneous Economic Networks

      • Wataru Souma, Yoshi Fujiwara, Hideaki Aoyama

      Pages 79-92

   3. The Emergence of Paradigm Setters Through Firms’ Interaction and Network Formation

      • Rainer Andergassen, Franco Nardini, Massimo Ricottilli

      Pages 93-106

4. Economic Dynamics

   1. Front Matter

      Pages 107-107

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   2. Statistical Properties of a Heterogeneous Asset Pricing Model with Time-varying Second Moment

      • Carl Chiarella, Xue-Zhong He, Duo Wang

      Pages 109-123

   3. Deflationary Recessions in a General Equilibrium Framework

      • Luca Colombo, Gerd Weinrich

      Pages 125-138

   4. Concepts of Thermodynamics in Economic Growth

      • Jürgen Mimkes

      Pages 139-152

   5. Firm Dynamics Simulation Using Game-theoretic Stochastic Agents

      • Yuichi Ikeda, Osamu Kubo, Yasuhiro Kobayashi

      Pages 153-162

5. Agent-based Modeling

   1. Front Matter

      Pages 163-163

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   2. A Functional Modularity Approach to Agent-based Modeling of the Evolution of Technology

      • Shu-Heng Chen, Bin-Tzong Chie

      Pages 165-178

   3. Herding Without Following the Herd: The Dynamics of Case-Based Decisions with Local Interactions

      • Andreas Krause

      Pages 179-191

   4. Cultural Evolution in a Population of Heterogeneous Agents

      • Gábor Fáth, Miklos Sarvary

      Pages 193-205

6. Auction and Two-sided Matching

   1. Front Matter

      Pages 207-207

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   2. Simulating Auctions

      • Konrad Richter

      Pages 209-223

Understanding the mechanism of a socio-economic system requires more than an understanding of the individuals that comprise the system. It also requires understanding how individuals interact with each other, and how the agg- gated outcome can be more than the sum of individual behaviors. This book contains the papers fostering the formation of an active multi-disciplinary community on socio-economic systems with the exciting new ?elds of age- based modeling and econophysics. We especially intend to increase the awareness of researchers in many ?elds with sharing the common view many economic and social activities as collectives of a large-scale heterogeneous and interacting agents. Economists seek to understand not only how individuals behave but also how the interaction of many individuals leads to complex outcomes. Age- based modeling is a method for studying socio-economic systems exhibiting the following two properties: (1) the system is composed of interacting agents, and (2) the system exhibits emergent properties, that is, properties arising from the interactions of the agents that cannot be deduced simply by agg- gating the properties of the system’s components. When the interaction of the agents is contingent on past experience, and especially when the agents continually adapt to that experience, mathematical analysis is typically very limited in its ability to derive the outcome.

• Agent Modeling for Market Microstructure Design
• Agent-Based Models
• Econophysics
• Emergent Aggregate Behaviors
• Financial Markets with Heterogeneous Agents
• Simulation
• agents
• calculus
• information theory

• Department of Computer Science, National Defense Academy, Yokosuka, Japan

  Akira Namatame

• Division of Social Sciences, International Christian University (ICU), Osawa, Mitaka, Tokyo, Japan

  Taisei Kaizouji

• Department of Commerce, Chuo University, Tokyo, Japan

  Yuuji Aruka

Policies and ethics