Advances in Artificial Economics: The Economy as a Complex Dynamic System (Lecture Notes in Economics and Mathematical Systems (584))

Perceiving the economy as a complex dynamic system, generates a need for new tools for its study. As a constructive simulation method, Agent-Based Computational Economics (ACE) has in recent years proven its strength and extensive applicability. Fields of study are widely spread within economics, with a cluster around financial markets. This book is based on communications given at AE’2006 (Aalborg, Denmark) – the second symposium on Artificial Economics, and covers both wellknown questions of economics, like the existence of market efficiency, as well as new questions raised by the new tools, for example questions related to networks of social interaction. Heterogeneous Beliefs Under Different Market Architectures / Mikhail Anufriev, Valentyn Panchenko -- The Allocative Effectiveness Of Market Protocols Under Intelligent Trading / Marco Licalzi, Paolo Pellizzari -- Strategic Behaviour In Continuous Double Auction / Marta Posada, Cesáreo Hernández, Adolfo López-paredes -- A Broad-spectrum Computational Approach For Market Efficiency / Olivier Brandoy, Philippe Mathieu -- The Dynamics Of Quote Prices In An Artificial Financial Market With Learning Effects / Andrea Consiglio, Valerio Lacagnina, Annalisa Russino -- Reduction Of The Bullwhip Effect In Supply Chains Through Speculation / Thierry Moyaux, Peter Mcburney -- Co-evolutionary Market Dynamics In A Peaked Resource Space / César García-díaz, Arjen Van Witteloostuijn -- E-consumers' Search And Emerging Structure Of Web-sites Coalitions / Jacques Laye [and Others] -- Agent Based Modeling Of Trust Between Firms In Markets / Alexander Gorobets, Bart Nooteboom --^ Investigations Into Schumpeterian Economic Behaviour Using Swarm / Craig Lynch -- The Wisdom Of Networked Evolving Agents / Akira Namatame -- Artificial Multi-agent Stock Markets : Simple Strategies, Complex Outcomes / A.o.i Hoffmann [and Others] -- Market Polarization In Presence Of Individual Choice Volatility / Sitabhra Sinha, Srinivas Raghavendra -- Is Ignoring Public Information Best Policy? Reinforcement Learning In Information Cascade / Toshiji Kawagoe, Shinichi Sasaki -- Complex Behaviours In Binary Choice Model With Global Or Local Social Influence / Denis Phan, Stéphane Pajot -- Dynamics Of A Public Investment Game : From Nearest-neighbor Lattices To Small-world Networks / Roberto Da Silva [and Others] -- Social Norms, Cognitive Dissonance And Broadcasting : How To Influence Economic Agents / Andrew Bertie, Susan Himmelweit, Andrew Trigg -- Confronting Agent-based Models With Data Methodological Issues And Open Problems / Giorgio Fagiolo, Alessio Moneta, Paul Windrum --^ Equilibrium Return And Agents' Survival In A Multiperiod Asset Market : Analytic Support Of A Simulation Model / Mikhail Anufriev, Pietro Dindo -- Explaining The Statistical Features Of The Spanish Stock Market From The Bottom-up / José A. Pascual, J. Pajares, A. López-paredes. Charlotte Bruun (ed.). This Book Is Based On Communications Given At Ae' 2006 (aalborg, Denmark)--the Second Symposium On Artificial Econnomics -- Back Cover. Includes Bibliographical References. As a constructive simulation method, Agent-Based Computational Economics (ACE) has proven its strength and applicability. Based on communications given at the second symposium on Artificial Economics, this book covers both well-known questions of economics, like the existence of market efficiency, as well as questions raised by new tools This book is based on presentations at AE’2006 (Aalborg, Denmark) – the second symposium on Artificial Economics. Coverage in this volume extends to well known questions of economics, like the existence of market efficiency, and to questions raised by new analytical tools, for example networks of social interaction.