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Agent-based Computational Economics
Agent-based computational economics (ACE) is the area of computational economics that studies economic processes, including whole economies, as dynamic systems of interacting agents. As such, it falls in the paradigm of complex adaptive systems. In corresponding agent-based models, the " agents" are "computational objects modeled as interacting according to rules" over space and time, not real people. The rules are formulated to model behavior and social interactions based on incentives and information. Such rules could also be the result of optimization, realized through use of AI methods (such as Q-learning and other reinforcement learning techniques). The theoretical assumption of mathematical optimization by agents in equilibrium is replaced by the less restrictive postulate of agents with bounded rationality ''adapting'' to market forces. ACE models apply numerical methods of analysis to computer-based simulations of complex dynamic problems for which more conventional metho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Computational Economics
Computational Economics is an interdisciplinary research discipline that involves computer science, economics, and management science.''Computational Economics''."About This Journal"an"Aims and Scope" This subject encompasses computational modeling of economic systems. Some of these areas are unique, while others established areas of economics by allowing robust data analytics and solutions of problems that would be arduous to research without computers and associated numerical methods.• Hans M. Amman, David A. Kendrick, and John Rust, ed., 1996. ''Handbook of Computational Economics'', v. 1, ElsevierDescription & chapter-previelinks. • Kenneth L. Judd, 1998. ''Numerical Methods in Economics'', MIT Press. Links tdescription anchapter previews Computational methods have been applied in various fields of economics research, including but not limiting to: Econometrics: Non-parametric approaches, Semi-parametric approaches, and Machine Learning. Dynamic Sys ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Numerical Methods
Numerical analysis is the study of algorithms that use numerical approximation (as opposed to symbolic manipulations) for the problems of mathematical analysis (as distinguished from discrete mathematics). It is the study of numerical methods that attempt at finding approximate solutions of problems rather than the exact ones. Numerical analysis finds application in all fields of engineering and the physical sciences, and in the 21st century also the life and social sciences, medicine, business and even the arts. Current growth in computing power has enabled the use of more complex numerical analysis, providing detailed and realistic mathematical models in science and engineering. Examples of numerical analysis include: ordinary differential equations as found in celestial mechanics (predicting the motions of planets, stars and galaxies), numerical linear algebra in data analysis, and stochastic differential equations and Markov chains for simulating living cells in medicine and b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bart Nooteboom
Bart is a masculine given name, usually a diminutive of Bartholomew, sometimes of Barton, Bartolomeo, etc. Bart is a Dutch and Ashkenazi Jewish surname, and derives from the name ''Bartholomäus'', a German form of the biblical name ''Bartholomew'' meaning 'son of talmai' in Aramaic. Given names * Bart Andrus (born 1958), American football player and coach * Bart Arens (born 1978), Dutch radio DJ * Bart Baker (born 1986), American comedian and parody musician * Bart Bassett (born 1961), Australian politician * Bart Baxter, American poet * Bart Becht (born 1956), Dutch businessman * Bart Berman (born 1938), Dutch-Israeli pianist and composer * Bart Biemans (born 1988), Belgian footballer * Bart Bok (1906–1983), Dutch-American astronomer * Bart Bongers (born 1946), Dutch water polo player * Bart Bowen (born 1967), American cyclist * Bart Bradley (1930–2006), Canadian ice hockey centre * Bart Braverman (born 1946), American actor * Bart Brentjens (born 1968), Dutch cycl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transaction Cost
In economics and related disciplines, a transaction cost is a cost in making any economic trade when participating in a market. Oliver E. Williamson defines transaction costs as the costs of running an economic system of companies, and unlike production costs, decision-makers determine strategies of companies by measuring transaction costs and production costs. Transaction costs are the total costs of making a transaction, including the cost of planning, deciding, changing plans, resolving disputes, and after-sales. Therefore, the transaction cost is one of the most significant factors in business operation and management. Oliver E. Williamson's ''Transaction Cost Economics'' popularized the concept of transaction costs. Douglass C. North argues that institutions, understood as the set of rules in a society, are key in the determination of transaction costs. In this sense, institutions that facilitate low transaction costs, boost economic growth.North, Douglass C. 1992. “Tran ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Axelrod
Robert Marshall Axelrod (born May 27, 1943) is an American political scientist. He is Professor of Political Science and Public Policy at the University of Michigan where he has been since 1974. He is best known for his interdisciplinary work on the evolution of cooperation. His current research interests include complexity theory (especially agent-based modeling), international security, and cyber security. His research includes innovative approaches to explaining conflict of interest, the emergence of norms, how game theory is used to study cooperation, and cross-disciplinary studies on evolutionary processes. Biography Axelrod received his B.A. in mathematics from the University of Chicago in 1964. In 1969, he received his Ph.D. in political science from Yale University for a thesis entitled ''Conflict of interest: a theory of divergent goals with applications to politics''. He taught at the University of California, Berkeley, from 1968 until 1974. Among his honors and aw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collaboration
Collaboration (from Latin ''com-'' "with" + ''laborare'' "to labor", "to work") is the process of two or more people, entities or organizations working together to complete a task or achieve a goal. Collaboration is similar to cooperation. Most collaboration requires leadership, although the form of leadership can be social within a decentralized and egalitarian group.Spence, Muneera U. ''"Graphic Design: Collaborative Processes = Understanding Self and Others."'' (lecture) Art 325: Collaborative Processes. Fairbanks Hall, Oregon State University, Corvallis, Oregon. 13 April 2006See also. Teams that work collaboratively often access greater resources, recognition and rewards when facing competition for finite resources. Caroline S. Wagner and Loet Leydesdorff. Globalisation in the network of science in 2005: The diffusion of international collaboration and the formation of a core group.'' Structured methods of collaboration encourage introspection of behavior and communication. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition
Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc. The rivalry can be over attainment of any exclusive goal, including recognition: Competition occurs in nature, between living organisms which co-exist in the same environment. Animals compete over water supplies, food, mates, and other biological resources. Humans usually compete for food and mates, though when these needs are met deep rivalries often arise over the pursuit of wealth, power, prestige, and fame when in a static, repetitive, or unchanging environment. Competition is a major tenet of market economies and business, often associated with business competition as companies are in competition with at least one other firm over the same group of customers. Competition inside a company ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asset Pricing
In financial economics, asset pricing refers to a formal treatment and development of two main pricing principles, outlined below, together with the resultant models. There have been many models developed for different situations, but correspondingly, these stem from either general equilibrium asset pricing or rational asset pricing, the latter corresponding to risk neutral pricing. Investment theory, which is near synonymous, encompasses the body of knowledge used to support the decision-making process of choosing investments, and the asset pricing models are then applied in determining the asset-specific required rate of return on the investment in question, or in pricing derivatives on these, for trading or hedging. (See also .) General Equilibrium Asset Pricing Under General equilibrium theory prices are determined through market pricing by supply and demand. Here asset prices jointly satisfy the requirement that the quantities of each asset supplied and the qu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kenneth L
Kenneth is an English given name and surname. The name is an Anglicised form of two entirely different Gaelic personal names: ''Cainnech'' and '' Cináed''. The modern Gaelic form of ''Cainnech'' is ''Coinneach''; the name was derived from a byname meaning "handsome", "comely". A short form of ''Kenneth'' is '' Ken''. Etymology The second part of the name ''Cinaed'' is derived either from the Celtic ''*aidhu'', meaning "fire", or else Brittonic ''jʉ:ð'' meaning "lord". People :''(see also Ken (name) and Kenny)'' Places In the United States: * Kenneth, Indiana * Kenneth, Minnesota * Kenneth City, Florida Kenneth City is a town in southern Pinellas County, Florida, between St. Petersburg and Pinellas Park, United States. The population was 4,980 at the 2010 US Census. History Kenneth City was founded in 1957 by Sidney Colen, a local developer, ... In Scotland: * Inch Kenneth, an island off the west coast of the Isle of Mull Other * " What's the Frequency, Kenneth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Computer Science
Computer science is the study of computation, automation, and information. Computer science spans theoretical disciplines (such as algorithms, theory of computation, information theory, and automation) to Applied science, practical disciplines (including the design and implementation of Computer architecture, hardware and Computer programming, software). Computer science is generally considered an area of research, academic research and distinct from computer programming. Algorithms and data structures are central to computer science. The theory of computation concerns abstract models of computation and general classes of computational problem, problems that can be solved using them. The fields of cryptography and computer security involve studying the means for secure communication and for preventing Vulnerability (computing), security vulnerabilities. Computer graphics (computer science), Computer graphics and computational geometry address the generation of images. Progr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alvin E
Alvin may refer to: Places Canada *Alvin, British Columbia United States *Alvin, Colorado *Alvin, Georgia *Alvin, Illinois * Alvin, Michigan *Alvin, Texas *Alvin, Wisconsin, a town *Alvin (community), Wisconsin, an unincorporated community Other uses * Alvin (given name) * Alvin (crater), a crater on Mars * Alvin (digital cultural heritage platform), a Swedish platform for digitised cultural heritage * Alvin (horse), a Canadian Standardbred racehorse * 13677 Alvin, an asteroid * DSV ''Alvin'', a deep-submergence vehicle * Alvin, a fictional planet on ''ALF'' (TV series) * Alvin Seville, of the fictional animated characters Alvin and the Chipmunks * "Alvin", by James from the album ''Girl at the End of the World'' * Tropical Storm Alvin See also * Alvin Community College * Alvin High School * Aylwin (other) Patricio Aylwin (1918–2016) was a Chilean politician. Aylwin may also refer to: *Andrés Aylwin (1925–2018), Chilean politician * Guy Maxwell Aylwin (1889– ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph Y
Joseph is a common male given name, derived from the Hebrew Yosef (יוֹסֵף). "Joseph" is used, along with "Josef", mostly in English, French and partially German languages. This spelling is also found as a variant in the languages of the modern-day Nordic countries. In Portuguese and Spanish, the name is "José". In Arabic, including in the Quran, the name is spelled '' Yūsuf''. In Persian, the name is "Yousef". The name has enjoyed significant popularity in its many forms in numerous countries, and ''Joseph'' was one of the two names, along with ''Robert'', to have remained in the top 10 boys' names list in the US from 1925 to 1972. It is especially common in contemporary Israel, as either "Yossi" or "Yossef", and in Italy, where the name "Giuseppe" was the most common male name in the 20th century. In the first century CE, Joseph was the second most popular male name for Palestine Jews. In the Book of Genesis Joseph is Jacob's eleventh son and Rachel's first son, an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
