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The building blocks of complexity: a unified criterion and selected applications in risk management
Seese, D.; Schlottmann, F. - Society for Computational Economics - SCE
complexity and properties of the underlying structures, as the existence of large grids, non-regularities and inhomogeneous … parametric complexity theory and analyse its impact in financial risk management. It is shown that selected real-world problems … reasons for the proved complexity. We show how selected risk management methods fit into the picture of our complexity …
Persistent link: https://www.econbiz.de/10005345743
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Assessing the Value of On-line Information Using a Two-sided Equilibrium Search Model in the Real Estate Market
Carrillo, Paul E. - Society for Computational Economics - SCE - 2005
, buyers incur remarkable high offline search costs in the REM. Third, online housing sites have notably improved the amount of … economy. We specify and estimate an equilibrium two-sided search model that depicts many of the REM’s real-life features …. The theoretical model modifies the framework of existing equilibrium search models in the labor literature to capture the …
Persistent link: https://www.econbiz.de/10005706315
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A computational model for incomplete contracts
Montoro-Pons, Juan D. - Society for Computational Economics - SCE - 2001
This work aims at connecting developments in the theory of agency and implicit contracts with research on bounded rationality and agent based computational models. These are two related areas as implicit contracts are justified on the basis of bounded rationality, which additionally is one of...
Persistent link: https://www.econbiz.de/10005345627
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Endogenous Networks in Random Population Games
Fagiolo, Giorgio; Marengo, Luigi; Valente, Marco - Society for Computational Economics - SCE
In the last years, many contributions have been exploring population learning in economies where myopic agents play bilateral games and are allowed to repeatedly choose their pure strategies in the game and, possibly, their opponents in the game. These models explore bilateral stage-games...
Persistent link: https://www.econbiz.de/10005345742
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Endogenous Networks in Random Population Games
Valente, Marco; Fagiolo, Giorgio; Marengo, Luigi - Society for Computational Economics - SCE - 2003
Persistent link: https://www.econbiz.de/10005537792
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Emergence in multi-agent systems:Cognitive hierarchy, detection, and complexity reduction
Dessalles, Jean Louis; Phan, Denis - Society for Computational Economics - SCE - 2005
decrease in relative algorithmic complexity. The relative algorithmic complexity of a system measures the complexity of the …
Persistent link: https://www.econbiz.de/10005132683
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Estimating the Deep Parameters of RBC Model with Learning
Eusepi, Stefano; D'Amico, Stefania - Society for Computational Economics - SCE - 2005
We formulate and estimate a RBC model with structural changes and with bounded rationality, where the economic agents have to learn about the former. This paper investigates whether the agents’ learning process can generate business cycles fluctuations which are empirically plausible....
Persistent link: https://www.econbiz.de/10005345072
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Connecting adaptive behaviour and expectations in models of innovation: The Potential Role of Artificial Neural Networks
Yildizoglu, Murat - Society for Computational Economics - SCE - 2002
Persistent link: https://www.econbiz.de/10005345449
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Monetary Policy, Endogenous Inattention, and the Output-Inflation Variance Tradeoff
McGough, Bruce; Branch, William A.; Carlson, John - Society for Computational Economics - SCE - 2004
Many models of monetary policy predict a trade-off between inflation and output variance despite compelling evidence that the Federal Reserve has become more aggressive in fighting inflation and there has been a resulting decline in both inflation and output variance. We address this apparent...
Persistent link: https://www.econbiz.de/10005706531
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Generalised Fading Memory Learning in a Cobweb Model: some evidence
Colucci, Domenico; Valori, Vincenzo - Society for Computational Economics - SCE - 2004
We develop a learning rule that generalises the well known fading memory learning in the sense that the weights attached to the available time series data are not constant and are updated in light of the prediction error(s). The underlying idea is that confidence in the available data will be...
Persistent link: https://www.econbiz.de/10005706555