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Books > Business & Economics > Economics > Economic theory & philosophy
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The Complex Networks of Economic Interactions - Essays in Agent-Based Economics and Econophysics (Paperback, 2006 ed.)
Loot Price: R3,160
Discovery Miles 31 600
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The Complex Networks of Economic Interactions - Essays in Agent-Based Economics and Econophysics (Paperback, 2006 ed.)
Series: Lecture Notes in Economics and Mathematical Systems, 567
Expected to ship within 10 - 15 working days
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Understanding the mechanism of a socio-economic system requires
more than an understanding of the individuals that comprise the
system. It also requires understanding how individuals interact
with each other, and how the agg- gated outcome can be more than
the sum of individual behaviors. This book contains the papers
fostering the formation of an active multi-disciplinary community
on socio-economic systems with the exciting new ?elds of age- based
modeling and econophysics. We especially intend to increase the
awareness of researchers in many ?elds with sharing the common view
many economic and social activities as collectives of a large-scale
heterogeneous and interacting agents. Economists seek to understand
not only how individuals behave but also how the interaction of
many individuals leads to complex outcomes. Age- based modeling is
a method for studying socio-economic systems exhibiting the
following two properties: (1) the system is composed of interacting
agents, and (2) the system exhibits emergent properties, that is,
properties arising from the interactions of the agents that cannot
be deduced simply by agg- gating the properties of the system's
components. When the interaction of the agents is contingent on
past experience, and especially when the agents continually adapt
to that experience, mathematical analysis is typically very limited
in its ability to derive the outcome.
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