Agent-Based Models Of The Economy uses agent-based models for understanding a broad spectrum of economic phenomena.This book aim is twofold. First, it introduces the reader to the methodology and to the technicalities and the tools necessary to master the creation of agent-based models. Second, it presents several examples of applications to different economic phenomena where agent-based models are crucial in answering the research question and in solving practical problems emerged in business and policy domains (e.g., financial markets, cooperation dynamics, public policy evaluation).With this book, readers learn what agent-based models are and the advantages they can provide. Further, readers learn how to develop from scratch and with scientific rigor their own agent-based models for studying economic phenomena. Finally, readers find in the book several applications that can represent examples to be imitated and to be kept as reference.
Agent-based Models of the EconomyFrom Theories to ApplicationsContributorRiccardo Boero, Matteo Morini, Michele Sonnessa, Pietro Terna
Abstract: Global financial crises have revealed the systemic risk posed by economic contagion. We provide perspectives on the formulation of a game between countries, central banks, banks, firms, households, and financial intergovernmental organizations to model the dynamics between players. We model strategic choices, strategy sets, and utility functions to provide new tools to handle financial crises. The model is illustrated with examples using sensitivity analysis. One country, and two countries, are considered, and we simulate the impacts of random shocks under a variety of assumptions. #neuroeconomy #beavioral_economy
Via Alessandro Cerboni
The firm is a fundamental economic unit of contemporary human societies. Studies on the general quantitative and statistical character of firms have produced mixed results regarding their lifespans and mortality. We examine a comprehensive database of more than 25 000 publicly traded North American companies, from 1950 to 2009, to derive the statistics of firm lifespans. Based on detailed survival analysis, we show that the mortality of publicly traded companies manifests an approximately constant hazard rate over long periods of observation. This regularity indicates that mortality rates are independent of a company's age. We show that the typical half-life of a publicly traded company is about a decade, regardless of business sector. Our results shed new light on the dynamics of births and deaths of publicly traded companies and identify some of the necessary ingredients of a general theory of firms.Madeleine I. G. Daepp , Marcus J. Hamilton , Geoffrey B. West , Luís M. A. Bettencourt. The mortality of companies. Royal Society Interface, 2015 http://dx.doi.org/10.1098/rsif.2015.0120 ;
Via Complexity Digest
“Duuzra’s cloud-based Content Management System gives you the ability to design, create and update interactive presentations easily and monitor how attendees interact and engage with content.”
Via Baiba Svenca
The annual European Conferences on Complex Systems (ECCS) have become a major venue for the Complex Systems Community since they were started in 2003. For the first time, this year, the conference will be held in North America to foster and multiply contacts between the European, North American and Asian communities working in this domain. CCS’15 will be a major international conference and event in the area of complex systems and interdisciplinary science in general. The conference will offer unique opportunities to study novel scientific approaches in a multitude of application areas, as reflected by the conference tracks:Conference Main Tracks - Foundations of Complex Systems (complex networks, self-organization, nonlinear dynamics, statistical physics, mathematical modeling, simulation) - Information and Communication Technologies (Internet, WWW, search, semantic web) - Language, Linguistics, Cognition and Social Systems (evolution of language, social consensus, artificial intelligence, cognitive processes) - Economics and Finance (social networks, game theory, stock market, crises) - Infrastructure, Planning and Environment (critical infrastructures, urban planning, mobility, transport, energy) - Biological Complexity (biological networks, systems biology, evolution, natural science, medicine and physiology) - Social Ecological Systems (global environmental change, green growth, sustainability, resilience) Important Dates15 April, 2015: Deadline for submission of satellite session proposals. 30 April, 2015: Deadline for submission of abstracts for papers, ignites, and posters.15 May, 2015: Notification to satellite session organizers. 1 June, 2015: Notification to authors of papers, ignites, and posters.15 August, 2015: Final abstracts due in electronic form.28 September - 2 October, 2015: Conference in Tempe, Arizonahttp://www.ccs2015.org
Via Complexity Digest
“ The Economy. Everyone’s talking about it, but who can explain it? 20 award-winning directors and 10 of our most respected economists add their voice to the chorus with a thought-provoking short-film series.”
Via Chris Gardner, jon inge, Bruce Fellowes
“Sway is a novel tool for building cloud based presentations. Sway offers a rapid design experience, focusing on the collation of images, text, and video, sourced from the web or your computer. It's a canvas for your ideas, quick to create, and easy to share. Sway is still in closed preview, but we were lucky enough to have been pulled out…”
Via Baiba Svenca
Complexity, Governance, and Networks aims to contribute to the philosophical, theoretical, methodological, and empirical developments in complexity, governance, and network studies in public administration, public policy, politics, and non-governmental organizations. The journal publishes primarily theoretical essays and original research papers. http://www.cgnj.infoFirst Issue at http://www.cgnj.info/index.php?option=com_content&view=article&id=164%3Atoc-cgn-01-2014&catid=49%3Acomplexity-governance-networks&Itemid=213〈=en
Via Complexity Digest
Tired of sending out the same old static PDFs, spreadsheets or links from Google Docs? Use Silk to make a fully interactive site that engages users and encourages them to play with your data.
Via Baiba Svenca
Last fall, Caltech and The Feynman Lectures Website joined forces to create an online edition of The Feynman Lectures on Physics. They started with Volume 1. And now they've followed up with Volume 2 and Volume 3, making the collection complete.
Via Luca Baptista
“Here are the Top 100 Tools for Learning 2015 classified in 30 categories under 4 main headings A - Instructional tools B - Content tools C - Social tools D - Personal tools The (number) is the posi...”
Via Pierre Levy
Introduction to the Modeling and Analysis of Complex Systems introduces students to mathematical/computational modeling and analysis developed in the emerging interdisciplinary field of Complex Systems Science. Complex systems are systems made of a large number of microscopic components interacting with each other in nontrivial ways. Many real-world systems can be understood as complex systems, where critically important information resides in the relationships between the parts and not necessarily within the parts themselves. This textbook offers an accessible yet technically-oriented introduction to the modeling and analysis of complex systems. The topics covered include: fundamentals of modeling, basics of dynamical systems, discrete-time models, continuous-time models, bifurcations, chaos, cellular automata, continuous field models, static networks, dynamic networks, and agent-based models. Most of these topics are discussed in two chapters, one focusing on computational modeling and the other on mathematical analysis. This unique approach provides a comprehensive view of related concepts and techniques, and allows readers and instructors to flexibly choose relevant materials based on their objectives and needs. Python sample codes are provided for each modeling example.http://textbooks.opensuny.org/introduction-to-the-modeling-and-analysis-of-complex-systems/
Via Complexity Digest
Aim of this paper is to introduce the complex system perspective into retail market analysis. Currently, to understand the retail market means to search for local patterns at the micro level, involving the segmentation, separation and profiling of diverse groups of consumers. In other contexts, however, markets are modelled as complex systems. Such strategy is able to uncover emerging regularities and patterns that make markets more predictable, e.g. enabling to predict how much a country’s GDP will grow. Rather than isolate actors in homogeneous groups, this strategy requires to consider the system as a whole, as the emerging pattern can be detected only as a result of the interaction between its self-organizing parts. This assumption holds also in the retail market: each customer can be seen as an independent unit maximizing its own utility function. As a consequence, the global behaviour of the retail market naturally emerges, enabling a novel description of its properties, complementary to the local pattern approach. Such task demands for a data-driven empirical framework. In this paper, we analyse a unique transaction database, recording the micro-purchases of a million customers observed for several years in the stores of a national supermarket chain. We show the emergence of the fundamental pattern of this complex system, connecting the products’ volumes of sales with the customers’ volumes of purchases. This pattern has a number of applications. We provide three of them. By enabling us to evaluate the sophistication of needs that a customer has and a product satisfies, this pattern has been applied to the task of uncovering the hierarchy of needs of the customers, providing a hint about what is the next product a customer could be interested in buying and predicting in which shop she is likely to go to buy it.
The retail market as a complex system Pennacchioli D, Coscia M, Rinzivillo S, Giannotti F, Pedreschi D EPJ Data Science 2014, 3 :33 (11 December 2014)
Explain Everything is a whiteboard and screencasting app that makes creating interactive lessons a simple proposition. Its full-featured editing options and its import/export functions allow it to stand apart from the other competitors
Via Baiba Svenca
This paper presents an idealized design for a legislative system. The concept of idealized design is explained. The paper critiques two critical (and often taken for granted) features of the legislative branches of most contemporary democratic governments: legislators are chosen by election, and the same bodies perform all legislative and meta-legislative functions, for all laws. Seven problems with these two features are described. A new model of lawmaking is proposed, based on three concepts from ancient Athenian democracy — random selection, dividing legislative functions among multiple bodies, and the use of temporary bodies (like contemporary juries) for final decision making. The benefits of the model are laid out, and likely objections are addressed.
Via Bernard Ryefield
Though it may be true that we are moving toward a society where computer science knowledge will be as integrated as math and English in the primary school system, coding literacy is even more important for university undergraduates as they prepare for the competitive, technologically advanced, and evolving job market. It’s difficult for students to make sense of the hype around computer science, programming, and ‘hacking.’ Long-standing barriers between technical and non-technical folks create misunderstandings that conceal the true breadth of technology and its essential applications across all academic fields. University students should be encouraged to harness the potential of programming to expand opportunities in their fields. Even beyond practical usage, coding provides an alternate way of thinking. Employing logic through the mind of a computer forces rationality, brevity, and accuracy. Strong leaders harness interdisciplinary critical thinking by considering problems from within different mindsets (creative, mathematical, emotional, etectera) to form an optimized solution.
Via Susan Einhorn
Commerce knits the modern world together in a way that nothing else quite does. Almost anything you own these days is the result of a complicated web of global interactions. And there's no better way to depict those interactions than some maps.
Via Luca Baptista
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