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Advances in Artificial Economics

The Economy as a Complex Dynamic System

  • Book
  • © 2006

Overview

Editors:
  1. Charlotte Bruun

    1. Department of Economics, Politics and Public Administration, Aalborg University, Aalborg, Denmark

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Part of the book series: Lecture Notes in Economics and Mathematical Systems (LNE, volume 584)

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Table of contents (20 chapters)

  1. Front Matter

    Pages I-XV
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  2. Market Structure and Economic Behaviour

    1. Front Matter

      Pages 1-1
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    2. Heterogeneous Beliefs Under Different Market Architectures

      • Mikhail Anufriev, Valentyn Panchenko
      Pages 3-15

    3. The Allocative Effectiveness of Market Protocols Under Intelligent Trading

      • Marco LiCalzi, Paolo Pellizzari
      Pages 17-29

    4. Strategic Behaviour in Continuous Double Auction

      • Marta Posada, Cesáreo Hernández, Adolfo López-Paredes
      Pages 31-43

  3. Market Efficiency and the Role of Speculation

    1. Front Matter

      Pages 45-45
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    2. A Broad-Spectrum Computational Approach for Market Efficiency

      • Olivier Brandoy, Philippe Mathieu
      Pages 47-61

    3. The Dynamics of Quote Prices in an Artificial Financial Market with Learning Effects

      • Andrea Consiglio, Valerio Lacagnina, Annalisa Russino
      Pages 63-75

    4. Reduction of the Bullwhip Effect in Supply Chains Through Speculation

      • Thierry Moyaux, Peter McBurney
      Pages 77-89

  4. Firm-Consumer Dynamics

    1. Front Matter

      Pages 91-91
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    2. Co-evolutionary Market Dynamics in a Peaked Resource Space

      • César García-Díaz, Arjen van Witteloostuijn
      Pages 93-104

    3. E-Consumers’ Search and Emerging Structure of Web-Sites Coalitions

      • Jacques Laye, Maximilien Laye, Charis Lina, Hervé Tanguy
      Pages 105-119

    4. Agent Based Modeling of Trust Between Firms in Markets

      • Alexander Gorobets, Bart Nooteboom
      Pages 121-132

    5. Investigations into Schumpeterian Economic Behaviour Using Swarm

      • Craig Lynch
      Pages 133-146

  5. Social Interaction - Network Effects

    1. Front Matter

      Pages 147-147
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    2. The Wisdom of Networked Evolving Agents

      • Akira Namatame
      Pages 149-165

    3. Artificial Multi-Agent Stock Markets: Simple Strategies, Complex Outcomes

      • A. O. I. Hoffmann, S. A. Delre, J. H. von Eije, W. Jager
      Pages 167-176

    4. Market Polarization in Presence of Individual Choice Volatility

      • Sitabhra Sinha, Srinivas Raghavendra
      Pages 177-190

    5. Is Ignoring Public Information Best Policy? Reinforcement Learning in Information Cascade

      • Toshiji Kawagoe, Shinichi Sasaki
      Pages 191-199

  6. Social Interaction - Connectivity

    1. Front Matter

      Pages 201-201
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Keywords

About this book

Perceiving the economy as a complex dynamic system, generates a need for new tools for its study. As a constructive simulation method, Agent-Based Computational Economics (ACE) has in recent years proven its strength and extensive applicability. Fields of study are widely spread within economics, with a cluster around financial markets. This book is based on communications given at AE’2006 (Aalborg, Denmark) – the second symposium on Artificial Economics, and covers both wellknown questions of economics, like the existence of market efficiency, as well as new questions raised by the new tools, for example questions related to networks of social interaction.

Editors and Affiliations

  • Department of Economics, Politics and Public Administration, Aalborg University, Aalborg, Denmark

    Charlotte Bruun

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