By Simon Diedrich, Fernando Beltrán (auth.), Andrea Teglio, Simone Alfarano, Eva Camacho-Cuena, Miguel Ginés-Vilar (eds.)
ISBN-10: 3642313000
ISBN-13: 9783642313004
ISBN-10: 3642313019
ISBN-13: 9783642313011
The box of synthetic economics (AE) embraces a wide variety of methodologies hoping on machine simulations so one can version and learn the complexity of financial and social phenomena. The overarching precept of AE is the research of combination homes of synthetic economies populated via adaptive brokers which are outfitted with behavioural principles and particular person ambitions. those combination houses are neither foreseen nor meant by means of the bogus brokers; conversely they're rising features of such artificially simulated platforms. The publication provides a peer-reviewed number of papers addressing a number of matters concerning macroeconomics, business association, networks, administration and finance, in addition to only methodological issues.
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Extra info for Managing Market Complexity: The Approach of Artificial Economics
Sample text
M and i = j. We further assume Λci = {λij : θij (t) = 0, j = 1, 2, . . , M, and i = j} ⊆ Λ and Λdi = {λij : θji (t) = 0, j = 1, 2, . . , M and i = j} ⊆ Λ be the sets of interbank credit and debit edges of bank bi . We hold size and structure of interbank linkages constant as default propagates through the system. In fact, when contagion spreads very rapidly through the financial system, banks are unlikely to have time to alter their behaviour before they are affected and, therefore, it may be appropriate to assume that the network remains static.
On the other hand, through these interbank linkages, shocks can be shared and absorbed by other bank’s net worth. Yet, when the systemic risk involve bank runs, an increase on the degree of interconnection may change the situation for the worse when the shock-absorber effect of connections stops10 and more banks default at the same time. This happens because in a complete financial network, for instance, the initial shock will be shared over all the other banks with a lower impact on their solvency.
V. Cerf. s. senate committee on commerce, science, and transportation hearing on network neutrality, 2006. 5. H. Cheng, S. Bandyopadhyay, and H. Guo. The debate on net neutrality: A policy perspective. Inf. Syst. , 22(1):60–82, 2011. 6. P. de Bijl and M. Peitz. Regulation and Entry into telecommunication Markets. Cambridge University Press, 2003. 7. K. DeMaagd and J. Bauer. Modeling the the dynamic interactions of agents in the provision of network infrastructure. Inf. Syst. Frontiers, 2010. 8.
Managing Market Complexity: The Approach of Artificial Economics by Simon Diedrich, Fernando Beltrán (auth.), Andrea Teglio, Simone Alfarano, Eva Camacho-Cuena, Miguel Ginés-Vilar (eds.)
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