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Agent-Based Computational Economics
Studying the Effect of Different Levels of Rationality on Macro-Activities for Economic Systems
Ahmed Okasha
Livre broché | Anglais
77,95 €
+ 155 points
Description
Alternative modelling formalisations, such as differential equations and statistical analysis, imposes many restrictions, such as homogeneity, anonymity and perfectly rational. Agent-based modelling and simulations provide a new modelling formalisation approach that relaxes some or all those restrictions. Two agent-based systems are developed to study theories of decentralised, individualistic, boundedly rational, complex behaviour and nonlinear stochastic systems. The first ACE model presents an ACE to study demand- pull and cost-push inflation. Moreover, it studies the effect of different levels of rationality on Macro-Activities for Economic Systems. The second ACE model studies the Lucas-Island model. Specifically, it studies the behaviour of the central bank to stabilise inflation and output. Three different economic models are studied. Simulations show that there is a positive relationship between the equilibrium price and level of rationality while there is a negative relationship with the unemployment rate.
Spécifications
Parties prenantes
- Auteur(s) :
- Editeur:
Contenu
- Nombre de pages :
- 228
- Langue:
- Anglais
Caractéristiques
- EAN:
- 9783843389228
- Date de parution :
- 20-01-11
- Format:
- Livre broché
- Format numérique:
- Trade paperback (VS)
- Dimensions :
- 152 mm x 229 mm
- Poids :
- 340 g
