Economics with Heterogeneous Interacting Agents / Edition 1

by Alan Kirman, Jean-Benoit Zimmermann

Overview

This book analyses situations in which individual agents, who might be different from each other, interact and produce behaviour on the aggregate level which does not correspond to that of the average actor. This leads to aggregate outcomes which would be impossible to explain in a more standard approach. Aggregation generates structure and, as a result, interaction and heterogeneity can be handled and we no longer have to rely on the over-simplified reduction of the behaviour of the economy to that of a "rational" individual.

Product Details

ISBN-13:	9783540422099
Publisher:	Springer Berlin Heidelberg
Publication date:	06/27/2001
Series:	Lecture Notes in Economics and Mathematical Systems , #503
Edition description:	Softcover reprint of the original 1st ed. 2001
Pages:	346
Product dimensions:	6.10(w) x 9.25(h) x 0.03(d)

Table of Contents

PartI: Social Networks.- A Simple Model of Fads and Cascading Failures on Sparse Switching Networks.- Self Organised Criticality in Economic and Social Networks - The Case of Innovation Diffusion.- Social Percolators and Self Organized Criticality.- Lock-out in Social Networks.- Cooperation, Adaptation and the Emergence of Leadership.- PartII: From micro to macro behaviours.- Technology Diffusion, Stability and Decay: Some Results.- On Dynamic Re-Specifications of Kiyotaki-Wright Model.- Industrial Dynamics with Quasi-Zero Intelligence Interacting Firms.- PartIII: Finance.- Stability of Pareto-Zipf Law in Non-stationary Economies.- Toy Models of Markets with Heterogeneous Interacting Agents.- Price Bubbles and the Long Run Profitability of a Trend Following Technical Trading Rule.- Firms’ Financial Heterogeneity and Business Cycles.- PartIV: Coalitions.- Stable Coalition Structures with Fixed Decision Scheme.- Coalition Formation with Heterogeneous Agents.- Location Games with Externalities.- V: Interactions and Knowledge.- “Simon says…” What— Rationality of Imitation in a Simonian Perspective.- Interacting Individuals and Organizations: a Case Study on Cooperations Between Firms and Research Laboratories.- Organisational Innovation, Communities of Practice and Epistemic Communities: the Case of Linux.- Knowledge Creation, Knowledge Diffusion and Network Structure.