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Nonlinear Dynamics and Heterogeneous Interacting Agents

  • Conference proceedings
  • © 2005

Overview

Editors:
  1. Thomas Lux

    1. Department of Economics, University of Kiel, Kiel, Germany

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  2. Eleni Samanidou

    1. Department of Economics, University of Kiel, Kiel, Germany

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    You can also search for this editor in PubMed   Google Scholar

  3. Stefan Reitz

    1. Department of Economics and Business Administration, University of Giessen, Gießen, Germany

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Part of the book series: Lecture Notes in Economics and Mathematical Systems (LNE, volume 550)

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Table of contents (21 papers)

  1. Front Matter

    Pages I-XIII
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  2. Learning in Computational and Laboratory Experiments

    1. The Implementation of the Turing Tournament: A Report

      • Jasmina Arifovic
      Pages 3-9

    2. Expectations Structure in Asset Pricing Experiments

      • Giulio Bottazzi, Giovanna Devetag
      Pages 11-26

    3. Learning in a “Basket of Crabs”: An Agent-Based Computational Model of Repeated Conservation Auctions

      • Atakelty Hailu, Steven Schilizzi
      Pages 27-39

    4. On the Benefit of Additional Information in Markets with Heterogeneously Informed Agents — an Experimental Study

      • Jürgen Huber, Michael Kirchler, Matthias Sutter
      Pages 41-52

  3. Games and Strategic Interactions

    1. Crowd Effects in Competitive, Multi-Agent Populations and Networks

      • Neil F. Johnson, Sehyo C. Choe, Sean Gourley, Timothy Jarrett, Pak Ming Hui
      Pages 55-70

    2. Local Minority Game and Emergence of Efficient Dynamic Order

      • Hiroshi Sato, Akira Namatame
      Pages 71-85

    3. Agents with Heterogeneous Strategies Interacting in a Spatial IPD

      • Frank Schweitzer, Robert Mach, Heinz Mühlenbein
      Pages 87-102

    4. Complexity Leads to Benefits: Pareto-Improving Chaos in a Heterogeneous Duopoly Market

      • Yasuo Nonaka
      Pages 103-119

  4. Innovation, Networks and Learning Dynamics

    1. On Novelty and Heterogeneity

      • Ulrich Witt
      Pages 123-138

    2. 'Collective Innovation’ in a Model of Network Formation with Preferential Meeting

      • Nicolas Carayol, Pascale Roux
      Pages 139-153

    3. Population Learning in Random Games with Endogenous Network Formation

      • Giorgio Fagiolo, Luigi Marengo, Marco Valente
      Pages 155-170

    4. Growth and Coalition Formation

      • Davide Fiaschi, Pier Mario Pacini
      Pages 171-188

    5. The Topology of Shareholding Networks

      • Stefano Battiston, Diego Garlaschelli, Guido Caldarelli
      Pages 189-199

  5. Statistical Physics Approaches

    1. A New Model of Labor Dynamics: Ultrametrics, Okun's Law, and Transient Dynamics

      • Masanao Aoki, Hiroshi Yoshikawa
      Pages 203-219

    2. A Finitary Characterization of the Ewens Sampling Formula

      • Domenico Costantini, Ubaldo Garibaldi, Paolo Viarengo
      Pages 221-236

    3. Statistical Properties of Absolute Log-Returns and a Stochastic Model of Stock Markets with Heterogeneous Agents

      • Taisei Kaizoji
      Pages 237-248

  6. Asset Price Dynamics

    1. Asset Price Dynamics and Diversification with Heterogeneous Agents

      • Carl Chiarella, Roberto Died, Laura Gardini
      Pages 251-267

    2. An Asset Pricing Model with Adaptive Heterogeneous Agents and Wealth Effects

      • Carl Chiarella, Xue-Zhong He
      Pages 269-285

    3. The Red Queen Principle and the Emergence of Efficient Financial Markets: An Agent Based Approach

      • Sheri Markose, Edward Tsang, Serafin Martinez Jaramillo
      Pages 287-303
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Keywords

About this book

Economic application of nonlinear dynamics, microscopic agent-based modelling, and the use of artificial intelligence techniques as learning devices of boundedly rational actors are among the most exciting interdisciplinary ventures of economic theory over the past decade. This volume provides us with a most fascinating series of examples on "complexity in action" exemplifying the scope and explanatory power of these innovative approaches.

Reviews

From the reviews:

"On May 29th – 31st, 2003, the annual Workshop on Economics with Heterogeneous Interacting Agents, was held in Kiel, Germany. The book under review collects selected papers presented at this workshop. Within five chapters a wide range of various research activities are covered. … The book under review provides a comprehensive collection of articles on nonlinear dynamics. Advanced researchers will find up to date studies especially on financial econometrics. Many presented concepts of interaction and learning may be applied to other social sciences as well." (Karsten Webel, Statistical Papers, Vol. 46 (4), 2005)

Editors and Affiliations

  • Department of Economics, University of Kiel, Kiel, Germany

    Thomas Lux, Eleni Samanidou

  • Department of Economics and Business Administration, University of Giessen, Gießen, Germany

    Stefan Reitz

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