Econophysics of Agent-Based Models

Frédéric Abergel

ISBN 10: 3319000225 / ISBN 13: 9783319000220

Published by Springer International Publishing Sep 2013, 2013

About this Item

This item is printed on demand - it takes 3-4 days longer - Neuware -The primary goal of this book is to present the research findings and conclusions of physicists, economists, mathematicians and financial engineers working in the field of 'Econophysics' who have undertaken agent-based modelling, comparison with empirical studies and related investigations. Most standard economic models assume the existence of the representative agent, who is 'perfectly rational' and applies the utility maximization principle when taking action. One reason for this is the desire to keep models mathematically tractable: no tools are available to economists for solving non-linear models of heterogeneous adaptive agents without explicit optimization. In contrast, multi-agent models, which originated from statistical physics considerations, allow us to go beyond the prototype theories of traditional economics involving the representative agent. This book is based on the Econophys-Kolkata VII Workshop, at which many such modelling efforts were presented. In the book, leading researchers in their fields report on their latest work, consider recent developments and review the contemporary literature. 312 pp. Englisch.

Seller Inventory # 9783319000220

Bibliographic Details

• Title: Econophysics of Agent-Based Models
• Publisher: Springer International Publishing Sep 2013
• Publication Date: 2013
• Language: English
• ISBN 10: 3319000225
• ISBN 13: 9783319000220
• Binding: Buch
• Condition: Neu
• Dimensions: 241W x 160H x 22D millimeters 241 millimeters width by 160 millimeters height by 22 millimeters depth
• Weight: 635 grams

About this title

Synopsis

The primary goal of this book is to present the research findings and conclusions of physicists, economists, mathematicians and financial engineers working in the field of "Econophysics" who have undertaken agent-based modelling, comparison with empirical studies and related investigations.
Most standard economic models assume the existence of the representative agent, who is “perfectly rational” and applies the utility maximization principle when taking action. One reason for this is the desire to keep models mathematically tractable: no tools are available to economists for solving non-linear models of heterogeneous adaptive agents without explicit optimization. In contrast, multi-agent models, which originated from statistical physics considerations, allow us to go beyond the prototype theories of traditional economics involving the representative agent. This book is based on the Econophys-Kolkata VII Workshop, at which many such modelling efforts were presented. In the book, leading researchers in their fields report on their latest work, consider recent developments and review the contemporary literature.

About the Author

Anirban Chakraborti
UrRL: http://fiquant.mas.ecp.fr/chakraboa

Frédéric Abergel
1992 Habilitation à diriger des recherches, département de Mathématiques,
Université Paris XI
1986 PhD in Mathematics, Université Paris XI and École Normale
Supérieure
1981-1985 École Normale Supérieure

Bikas K. Chakrabarti
http://www.saha.ac.in/cmp/bikask.chakrabarti/bikas.html