Emergent Results of Artificial Economics

1. Front Matter

   Pages i-xx

   PDF

2. Humans in the System

   1. Front Matter

      Pages 1-1

      PDF

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

      • Matylda Jabłońska, 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

      PDF

   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

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.

• Agent-Based Models
• Artificial Markets
• Complex Adaptive Systems
• Computational Economics
• Economic Networks

• , 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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