Complexity and Artificial Markets

• Corporate Author: SpringerLink (Online service)
• Other Authors: Schredelseker, Klaus (Editor), Hauser, Florian (Editor)
• Format: Electronic eBook
• Language: English
• Published: Berlin, Heidelberg : Springer Berlin Heidelberg, 2008.
• Series: Lecture Notes in Economics and Mathematical Systems, 614
• Subjects: Application software.; Statistical physics.; Dynamical systems.; Economic theory.; Econometrics.; Economics.; Economic Theory/Quantitative Economics/Mathematical Methods.; Computer Appl. in Social and Behavioral Sciences.; Statistical Physics, Dynamical Systems and Complexity.

In recent years, agent-based simulation has become a widely accepted tool when dealing with complexity in economics and other social sciences. The contributions presented in this book apply agent-based methods to derive results from complex models related to market mechanisms, evolution, decision ma...

Table of Contents:

• Market Mechanisms
• Zero-Intelligence Trading Without Resampling
• Understanding the Price Dynamics of a Real Market Using Simulations: The Dutch Auction of the Pescara Wholesale Fish Market
• Market Behavior Under Zero-Intelligence Trading and Price Awareness
• Evolution and Decision Making
• Evolutionary Switching between Forecasting Heuristics: An Explanation of an Asset-Pricing Experiment
• Prospect Theory Behavioral Assumptions in an Artificial Financial Economy
• Computing the Evolution of Walrasian Behaviour
• Multidimensional Evolving Opinion for Sustainable Consumption Decision
• Information Economics
• Local Interaction, Incomplete Information and Properties of Asset Prices
• Long-Term Orientation in Trade
• Agent-Based Experimental Economics in Signaling Games
• Methodological Issues
• Why do we need Ontology for Agent-Based Models?
• Production and Finance in EURACE
• Serious Games for Economists
• Invited Speakers
• Computational Evolution
• Artificial Markets: Rationality and Organisation.