Journal of Economic Interaction and Coordination
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Using difference equations to find optimal tax structures on the SugarScape
Journal of Economic Interaction and Coordination - Tập 9 - Trang 233-253 - 2014
The use of equations to describe agent-based model dynamics allows access to mathematical theory that is not otherwise available. In particular, equation models can be effective at solving optimization problems—that is, problems concerning how an agent-based model can be most effectively steered into a particular state. In order to illustrate this strategy, we describe a modified version of the we......
Identifying financial instability conditions using high frequency data
Journal of Economic Interaction and Coordination - Tập 15 - Trang 221-242 - 2019
We study an indicator of financial instability based on the computation of the decay rate for the propagation of a given market shock. The rate of variation through time of an initial perturbation of the price process enables us to understand if such a shock will be rapidly absorbed or, on the contrary, it will be amplified by the market. The indicator combines non-linearly volatility, leverage an......
Common-value auction versus posted-price selling: an agent-based model approach
Journal of Economic Interaction and Coordination - Tập 9 - Trang 129-149 - 2013
Previous theoretical work has compared a private-value auction and posted-price market, and an affiliated-value auction and a posted-price market to determine the selling method preferred by sellers. Much less, however, is known about the seller’s preferred selling method when the buyers have a common value of the item. Our objective is to determine if a first-price auction or a posted-price marke......
Community structure in the World Trade Network based on communicability distances
Journal of Economic Interaction and Coordination - - 2020
In this paper, we investigate the mesoscale structure of the World Trade Network. In this framework, a specific role is assumed by short- and long-range interactions, and hence by any suitably defined network-based distance between countries. Therefore, we identify clusters through a new procedure that exploits Estrada communicability distance and the vibrational communicability distance, which tu......
A network approach to expertise retrieval based on path similarity and credit allocation
Journal of Economic Interaction and Coordination - Tập 17 - Trang 501-533 - 2021
With the increasing availability of online scholarly databases, publication records can be easily extracted and analysed. Researchers can promptly keep abreast of others’ scientific production and, in principle, can select new collaborators and build new research teams. A critical factor one should consider when contemplating new potential collaborations is the possibility of unambiguously definin......
Participation in and provision of public goods: Does granularity matter?
Journal of Economic Interaction and Coordination - Tập 16 - Trang 265-285 - 2020
We use public goods games to experimentally investigate the effect of granularity (i.e., the degree of divisibility of the space of feasible contribution options) on participation (whether individuals contribute or not to the public good) and public goods provision (total contribution to the public good). Our results show that granularity has a significant effect on participation, mainly when coar......
Combining monetary policy and prudential regulation: an agent-based modeling approach
Journal of Economic Interaction and Coordination - Tập 15 - Trang 385-411 - 2017
This paper explores the interaction between monetary policy and prudential regulation in an agent-based modeling framework. Firms borrow funds from the banking system in an economy regulated by a central bank. The central bank carries out monetary policy, by setting the interest rate, and prudential regulation, by establishing the banking capital requirement. Different combinations of interest rat......
A comparison of zero- and minimal-intelligence agendas in majority-rule voting models
Journal of Economic Interaction and Coordination - - Trang 1-35 - 2023
Emergent behavior in repeated collective decisions of minimally intelligent agents—who at each step in time invoke majority rule to choose between a status quo and a random challenge—can manifest through the long-term stationary probability distributions of a Markov chain. We use this known technique to compare two kinds of voting agendas: a zero-intelligence agenda that chooses the challenger uni......
Agent based model of a simple economy
Journal of Economic Interaction and Coordination - Tập 7 - Trang 209-221 - 2012
This article proposes a model of a simple economy based on a set of agent-based modeling principles. The model is based on the “trust game” formulated by Berg et al. (Games Econ Behav 10:122–142, 1995), and anticipates a random matching of partners taking in to account adaptive agent behavior. Simulation in the NetLogo programming environment, using profile distributions obtained from empirical st......
An empirical behavioral model of household’s deposit dollarization
Journal of Economic Interaction and Coordination - Tập 17 - Trang 827-847 - 2022
We use the behavioral concept to endogenously model the evolution of the link between households’ deposit dollarization and exchange rate developments in Russia. We estimate the model empirically and show that the reaction of households to exchange rate appreciation weakens when exchange rate developments become more volatile. The proposed model outperforms the contemporary nonlinear time series m......
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