Modeling Aggregate Behavior and Fluctuations in Economics : Stochastic Views of Interacting Agents
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| Title: | Modeling Aggregate Behavior and Fluctuations in Economics : Stochastic Views of Interacting Agents |
|---|---|
| Description: | This book has two components: stochastic dynamics and stochastic random combinatorial analysis. The first discusses evolving patterns of interactions of a large but finite number of agents of several types. Changes of agent types or their choices or decisions over time are formulated as jump Markov processes with suitably specified transition rates: optimisations by agents make these rates generally endogenous. Probabilistic equilibrium selection rules are also discussed, together with the distributions of relative sizes of the bases of attraction. As the number of agents approaches infinity, we recover deterministic macroeconomic relations of more conventional economic models. The second component analyses how agents form clusters of various sizes. This has applications for discussing sizes or shares of markets by various agents which involve some combinatorial analysis patterned after the population genetics literature. These are shown to be relevant to distributions of returns to assets, volatility of returns, and power laws. |
| Authors: | Masanao Aoki |
| Resource Type: | eBook. |
| Subjects: | Demand (Economic theory)--Mathematical models, Supply and demand--Mathematical models, Consumption (Economics)--Mathematical models, Business cycles--Mathematical models, Statics and dynamics (Social sciences)--Mathematical models, Stochastic processes--Mathematical models |
| Categories: | BUSINESS & ECONOMICS / Economics / Microeconomics |
| Database: | eBook Collection (EBSCOhost) |
| FullText | Links: – Type: ebook-pdf Text: Availability: 0 |
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| Header | DbId: nlebk DbLabel: eBook Collection (EBSCOhost) An: 77931 RelevancyScore: 979 AccessLevel: 6 PubType: eBook PubTypeId: ebook PreciseRelevancyScore: 978.796813964844 |
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| Items | – Name: Title Label: Title Group: Ti Data: Modeling Aggregate Behavior and Fluctuations in Economics : Stochastic Views of Interacting Agents – Name: Abstract Label: Description Group: Ab Data: This book has two components: stochastic dynamics and stochastic random combinatorial analysis. The first discusses evolving patterns of interactions of a large but finite number of agents of several types. Changes of agent types or their choices or decisions over time are formulated as jump Markov processes with suitably specified transition rates: optimisations by agents make these rates generally endogenous. Probabilistic equilibrium selection rules are also discussed, together with the distributions of relative sizes of the bases of attraction. As the number of agents approaches infinity, we recover deterministic macroeconomic relations of more conventional economic models. The second component analyses how agents form clusters of various sizes. This has applications for discussing sizes or shares of markets by various agents which involve some combinatorial analysis patterned after the population genetics literature. These are shown to be relevant to distributions of returns to assets, volatility of returns, and power laws. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Masanao+Aoki%22">Masanao Aoki</searchLink> – Name: TypePub Label: Resource Type Group: TypPub Data: eBook. – Name: Subject Label: Subjects Group: Su Data: <searchLink fieldCode="DE" term="%22Demand+%28Economic+theory%29--Mathematical+models%22">Demand (Economic theory)--Mathematical models</searchLink><br /><searchLink fieldCode="DE" term="%22Supply+and+demand--Mathematical+models%22">Supply and demand--Mathematical models</searchLink><br /><searchLink fieldCode="DE" term="%22Consumption+%28Economics%29--Mathematical+models%22">Consumption (Economics)--Mathematical models</searchLink><br /><searchLink fieldCode="DE" term="%22Business+cycles--Mathematical+models%22">Business cycles--Mathematical models</searchLink><br /><searchLink fieldCode="DE" term="%22Statics+and+dynamics+%28Social+sciences%29--Mathematical+models%22">Statics and dynamics (Social sciences)--Mathematical models</searchLink><br /><searchLink fieldCode="DE" term="%22Stochastic+processes--Mathematical+models%22">Stochastic processes--Mathematical models</searchLink> – Name: SubjectBISAC Label: Categories Group: Su Data: <searchLink fieldCode="ZK" term="%22BUSINESS+%26+ECONOMICS+%2F+Economics+%2F+Microeconomics%22">BUSINESS & ECONOMICS / Economics / Microeconomics</searchLink> |
| PLink | https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=nlebk&AN=77931 |
| RecordInfo | BibRecord: BibEntity: Classifications: – Code: 338.5212 Scheme: ddc Type: prePub Languages: – Code: eng Text: English Subjects: – SubjectFull: Demand (Economic theory)--Mathematical models Type: general – SubjectFull: Supply and demand--Mathematical models Type: general – SubjectFull: Consumption (Economics)--Mathematical models Type: general – SubjectFull: Business cycles--Mathematical models Type: general – SubjectFull: Statics and dynamics (Social sciences)--Mathematical models Type: general – SubjectFull: Stochastic processes--Mathematical models Type: general Titles: – TitleFull: Modeling Aggregate Behavior and Fluctuations in Economics : Stochastic Views of Interacting Agents Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Masanao Aoki – PersonEntity: Name: NameFull: Masanao Aoki IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 01 Type: published Y: 2002 – D: 04 M: 02 Type: profile Y: 2014 Identifiers: – Type: isbn-print Value: 9780521781268 – Type: isbn-electronic Value: 9780511018787 Titles: – TitleFull: Modeling Aggregate Behavior and Fluctuations in Economics : Stochastic Views of Interacting Agents Type: main |
| ResultId | 1 |
