Skip to content

Modeling Aggregate Behavior and Fluctuations in Economics Stochastic Views of Interacting Agents

Spend $50 to get a free DVD!

ISBN-10: 0521606195

ISBN-13: 9780521606196

Edition: 2004

Authors: Masanao Aoki

List price: $44.95
Blue ribbon 30 day, 100% satisfaction guarantee!
Out of stock
what's this?
Rush Rewards U
Members Receive:
Carrot Coin icon
XP icon
You have reached 400 XP and carrot coins. That is the daily max!

Description:

This book analyzes how a large but finite number of agents interact, and what sorts of macroeconomic statistical regularities or patterns may evolve from these interactions. By keeping the number of agents finite, the book examines situations such as fluctuations about equilibria, multiple equilibria and asymmetrical cycles of models which are caused by model states stochastically moving from one basin of attraction to another. All of these are not tractable using traditional deterministic modeling approaches. The book also discusses how agents may form clusters with stationary distributions of cluster sizes. These have important applications in analyzing volatilities of asset returns.
Customers also bought

Book details

List price: $44.95
Copyright year: 2004
Publisher: Cambridge University Press
Publication date: 9/9/2004
Binding: Paperback
Pages: 280
Size: 6.25" wide x 9.00" long x 0.75" tall
Weight: 0.990
Language: English

Overview
Setting up dynamic models
The master equation
Introductory simple and simplified models
Aggregate dynamics and fluctuations of simple models
Evaluation of alternatives
Solving non-stationary master equations
Growth and business cycle models
Example: a new look at the diamond search model
Interaction patterns of agents and distributions of cluster sizes
Example: share markets with two dominant types of participants in a market