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Computational Economics: Heterogeneous Agent Modeling
1st Edition
Editors:
Cars Hommes
Blake LeBaron
eBook ISBN: 9780444641328
Hardcover ISBN: 9780444641311
Imprint: North Holland
Published Date: 19th June 2018
Page Count: 834
View all volumes in this series: Handbooks in Economics
Table of Contents
Introduction: Why heterogeneity?
Cars Hommes and Blake LeBaron
Macroeconomics
1. Bounded Rationality and Heterogeneous Agents in Macroeconomics: Microfoundations
William Branch and Bruce McGough
2. Agent-based Macroeconomics (including policy & innovation)
Herbert Dawid and Domenico Delli Gatti
3. Firm Dynamics
Robert Axtell
4. Heterogeneous agents in the Macroeconomy: Reduced-heterogeneity representations
Xavier Ragot
Finance
5. Heterogeneous Agent Models in Finance
Xue-Zhong (Tony) He and Roberto Dieci
6. Leverage Cycles
Doyne Farmer
7. Market Microstructure
Jean-Philippe Bouchaud
Empirical validation and experiments
8. Empirical Validation of Heterogeneous Agent Models
Thomas Lux and Remco Zwinkels
9. Experimental Macroeconomics
Jasmina Arifovic and John Duffy
10. Experimental Games
Rosemarie Nagel and Felix Mauersberger
Networks
11. Complex Financial Networks
Giulia Iori and Rosario N. Mantegna
12. Economic and Social Networks
Sanjeev Goyal
Other Applications
13. Market Design and Electricity Markets
Leigh Tesfatsion
Perspectives on heterogeneity
14. Modeling a Heterogeneous World
Alan Kirman and Rick Bookstaber
Description
Handbook of Computational Economics: Heterogeneous Agent Modeling, Volume Four, focuses on heterogeneous agent models, emphasizing recent advances in macroeconomics (including DSGE), finance, empirical validation and experiments, networks and related applications. Capturing the advances made since the publication of Volume Two (Tesfatsion & Judd, 2006), it provides high-level literature with sections devoted to Macroeconomics, Finance, Empirical Validation and Experiments, Networks, and other applications, including Innovation Diffusion in Heterogeneous Populations, Market Design and Electricity Markets, and a final section on Perspectives on Heterogeneity.
Key Features
- Helps readers fully understand the dynamic properties of realistically rendered economic systems
- Emphasizes detailed specifications of structural conditions, institutional arrangements and behavioral dispositions
- Provides broad assessments that can lead researchers to recognize new synergies and opportunities
Readership
Graduate students and professors worldwide studying quantitative economic methods and their applications
Details
- No. of pages:
- 834
- Language:
- English
- Copyright:
- © North Holland 2018
- Published:
- 19th June 2018
- Imprint:
- North Holland
- eBook ISBN:
- 9780444641328
- Hardcover ISBN:
- 9780444641311
Ratings and Reviews
About the Editors
Cars Hommes Editor
Cars Hommes is one of the pioneers in complexity economics. His work on nonlinear complex economic systems challenges the traditional neoclassical paradigm of the representative rational agent in economics. In a rational world the economy is characterized by an average agent (consumer, producer, investor, etc.), who is a perfect optimizer with rational expectations about the future. Hommes' work develops an alternative complexity paradigm based on agent-based behavioral complexity models.He has published more than 100 articles in leading international journals and book chapters and he is the author and editor of four books. He has been Editor of the Journal of Economic Dynamics and Control (2002-2012) and is the president elect of the international Society of Computational Economics.
Affiliations and Expertise
Amsterdam School of Economics, University of Amsterdam, The Netherlands
Blake LeBaron Editor
Blake LeBaron has a Ph.D. in Economics from the University of Chicago. He is the Abram L. and Thelma Sachar Chair of International Economics at the International Business School, Brandeis University. He is a Research Associate at the National Bureau of Economic Research, and was a Sloan Fellow. LeBaron also served as director of the Economics Program at The Santa Fe Institute in 1993. LeBaron's research has concentrated on the issue of nonlinear behavior of financial and macroeconomic time series. He has been influential both in the statistical detection of nonlinearities and in describing their qualitative behavior in many series. LeBaron's current interests are in understanding the quantitative dynamics of interacting systems of adaptive agents and how these systems replicate observed real world phenomenon. Also, LeBaron is interested in understanding some of the observed behavioral characteristics of traders in financial markets. This behavior includes strategies such as technical analysis and portfolio optimization, along with policy questions such as foreign exchange intervention. In general, he seeks to find out the empirical implications of learning and adaptation as applied to finance and macroeconomics.
Affiliations and Expertise
Brandeis University, USA
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