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Item Details
| Title:
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ECONOPHYSICS OF AGENT-BASED MODELS
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| By: |
Frederic Abergel (Editor), Anirban Chakraborti (Editor), Bikas K. Chakrabarti (Editor) |
| Format: |
Hardback |
| List price:
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£159.99 |
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We currently do not stock this item, please contact the publisher directly for
further information.
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| ISBN 10: |
3319000225 |
| ISBN 13: |
9783319000220 |
| Publisher: |
SPRINGER INTERNATIONAL PUBLISHING AG |
| Pub. date: |
7 September, 2013 |
| Edition: |
2014 ed. |
| Series: |
New Economic Windows |
| Pages: |
302 |
| 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. |
| Illustrations: |
91 Illustrations, black and white; VIII, 302 p. 91 illus. |
| Publication: |
Switzerland |
| Imprint: |
Springer International Publishing AG |
| Returns: |
Returnable |
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