Modeling Aggregate Behavior and Fluctuations in Economics (BOK)

Masanao Aoki

1 149,00 1 14900
Sendes vanligvis innen 5-15 dager
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.

Produktfakta

Språk Engelsk Engelsk Innbinding Innbundet
Utgitt 2001 Forfatter Masanao Aoki
Forlag
CAMBRIDGE UNIVERSITY PRESS
ISBN 9780521781268
Antall sider 280 Dimensjoner 15,4cm x 23cm x 2,2cm
Vekt 640 gram Leverandør Bertram Trading Ltd
Emner og form Probability & statistics, Economic statistics

Andre produkter med samme artist(er)/medvirkende