Nonlinear dynamics and heterogeneous interacting agents : [contains a selection of contributions presented ath the WEHIA 03 (Workshop on Economics with Heterogeneous Interacting Agents), which was held at the Institute of World Economics in Kiel, Germany,

Economic application of nonlinear dynamics, microscopic agent-based modelling, and the use of artificial intelligence techniques as learning devices of boundedly rational actors are among the most exciting interdisciplinary ventures of economic theory over the past decade. This volume provides us with a most fascinating series of examples on "complexity in action" exemplifying the scope and explanatory power of these innovative approaches. The Implementation of the Turing Tournament: A Report....Pages 3-9 Expectations Structure in Asset Pricing Experiments....Pages 11-26 Learning in a “Basket of Crabs”: An Agent-Based Computational Model of Repeated Conservation Auctions....Pages 27-39 On the Benefit of Additional Information in Markets with Heterogeneously Informed Agents — an Experimental Study....Pages 41-52 Crowd Effects in Competitive, Multi-Agent Populations and Networks....Pages 55-70 Local Minority Game and Emergence of Efficient Dynamic Order....Pages 71-85 Agents with Heterogeneous Strategies Interacting in a Spatial IPD....Pages 87-102 Complexity Leads to Benefits: Pareto-Improving Chaos in a Heterogeneous Duopoly Market....Pages 103-119 On Novelty and Heterogeneity....Pages 123-138 'Collective Innovation’ in a Model of Network Formation with Preferential Meeting....Pages 139-153 Population Learning in Random Games with Endogenous Network Formation....Pages 155-170 Growth and Coalition Formation....Pages 171-188 The Topology of Shareholding Networks....Pages 189-199 A New Model of Labor Dynamics: Ultrametrics, Okun's Law, and Transient Dynamics....Pages 203-219 A Finitary Characterization of the Ewens Sampling Formula....Pages 221-236 Statistical Properties of Absolute Log-Returns and a Stochastic Model of Stock Markets with Heterogeneous Agents....Pages 237-248 Asset Price Dynamics and Diversification with Heterogeneous Agents....Pages 251-267 An Asset Pricing Model with Adaptive Heterogeneous Agents and Wealth Effects....Pages 269-285 The Red Queen Principle and the Emergence of Efficient Financial Markets: An Agent Based Approach....Pages 287-303 Price Formation in an Artificial Market: Limit Order Book Versus Matching of Supply and Demand....Pages 305-315 Fraudulent Agents in an Artificial Financial Market....Pages 317-326 Thomas Lux, Stefan Reitz, Eleni Samanidou (eds.). This Volume Contains A Selection Of Contributions Presented At The Wehia 03 (workshop On Economics With Heterogeneous Interacting Agents), Which Was Held At The Institute Of World Economics In Kiel, Germany, On May 29-31, 2003).--pref. Includes Bibliographical References.