Lecture Notes in Economics and Mathematical Systems

Emergent Results of Artificial Economics

Editors: Osinga, Sjoukje, Hofstede, Gert Jan, Verwaart, Tim (Eds.)

  • 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
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eBook $84.99
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  • ISBN 978-3-642-21108-9
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Softcover $109.00
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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.

Table of contents (17 chapters)

  • Multi-Agent Stochastic Simulation for the Electricity Spot Market Price

    Jabłońska, Matylda (et al.)

    Pages 3-14

  • Referral Hiring and Labor Markets: a Computational Study

    Thiriot, Samuel (et al.)

    Pages 15-25

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

    Osinga, Sjoukje A. (et al.)

    Pages 27-38

  • Do Capital Requirements Affect Long-Run Output Trends?

    Teglio, Andrea (et al.)

    Pages 41-52

  • Modeling the Textbook Fractional Reserve Banking System.

    Mallett, Jacky

    Pages 53-64

Buy this book

eBook $84.99
price for USA (gross)
  • ISBN 978-3-642-21108-9
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $109.00
price for USA
  • ISBN 978-3-642-21107-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Emergent Results of Artificial Economics
Editors
  • Sjoukje Osinga
  • Gert Jan Hofstede
  • Tim Verwaart
Series Title
Lecture Notes in Economics and Mathematical Systems
Series Volume
652
Copyright
2011
Publisher
Springer-Verlag Berlin Heidelberg
Copyright Holder
Springer-Verlag Berlin Heidelberg
eBook ISBN
978-3-642-21108-9
DOI
10.1007/978-3-642-21108-9
Softcover ISBN
978-3-642-21107-2
Series ISSN
0075-8442
Edition Number
1
Number of Pages
XX, 212
Number of Illustrations and Tables
61 b/w illustrations
Topics