By Gianfranco Giulioni (auth.), Cesáreo Hernández, Marta Posada, Adolfo López-Paredes (eds.)
Simulation is utilized in economics to resolve huge econometric types, for large-scale micro simulations, and to procure numerical recommendations for coverage layout in top-down tested versions. yet those purposes fail to exploit the tools provided by means of synthetic economics (AE) via man made intelligence and allotted computing. AE is a bottom-up and generative procedure of agent-based modelling built to get a deeper perception into the complexity of economics. AE could be seen as a truly based and basic category of modelling innovations that generalize numerical economics, mathematical programming and micro simulation techniques. The papers provided during this booklet handle methodological questions and functions of AE to macroeconomics, commercial association, details and studying, industry dynamics, finance and fiscal markets.
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Extra info for Artificial Economics: The Generative Method in Economics
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It might be the case that when economic conditions worsen, households have to rely on their deposits so that l increases; another possibility is that a decrease of the risk free interest rate could induce a “bullish” period in the stock market so that bank shareholders will expect a higher dividend so that s increases. In other words, the asynchronous motion of the thresholds affects the composition of bank customers over time. Our message is that these aspects should gain importance in policy makers decision processes.
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