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Economics for a Fairer Society: Going Back to Basics using Agent-Based Models 2019 ed. [Kietas viršelis]

  • Formatas: Hardback, 184 pages, aukštis x plotis: 210x148 mm, weight: 477 g, 69 Illustrations, color; 1 Illustrations, black and white; XIII, 184 p. 70 illus., 69 illus. in color., 1 Hardback
  • Išleidimo metai: 06-May-2019
  • Leidėjas: Springer Nature Switzerland AG
  • ISBN-10: 3030170195
  • ISBN-13: 9783030170196
Kitos knygos pagal šią temą:
Economics for a Fairer Society: Going Back to Basics using Agent-Based Models 2019 ed.Didesnis paveikslėlis
  • Formatas: Hardback, 184 pages, aukštis x plotis: 210x148 mm, weight: 477 g, 69 Illustrations, color; 1 Illustrations, black and white; XIII, 184 p. 70 illus., 69 illus. in color., 1 Hardback
  • Išleidimo metai: 06-May-2019
  • Leidėjas: Springer Nature Switzerland AG
  • ISBN-10: 3030170195
  • ISBN-13: 9783030170196
Kitos knygos pagal šią temą:
Pastovi nuoroda: https://www.kriso.lt/db/9783030170196.html
Raktažodžiai:
This Palgrave Pivot presents experiments that reveal core dynamics of trade in a complex system. Monetary trade is stripped of all its complications and placed in agent-based models, a complexity research tool capable of reproducing emergent behaviour and evolution. Included are ground-breaking repeatable experiments exploring the impact of evolutionary prerequisites empirically present in markets.





Isolating the core dynamics of trade results in very simple agent-based models. However, decades of complexity research demonstrate that even the simplest systems result in emergent behaviour that is extremely difficult to anticipate. Readers who are only familiar with the linear-system theories and models used to train almost all undergraduate economics students might be surprised to witness price detaching from supply and demand, and extreme poverty and wealth arising in trade systems populated by agents with equal ability and opportunity. Watch as empirical evolutionary prerequisites are introduced and price patterns characterising two different markets asset markets and speculative markets emerge irrespective of supply and demand.

In addition to laying the groundwork of monetary trade in a complex system, more complicated models feature mortal reproductive agents. Including living populations in economic models reveal how the complexity characteristics of our market economy are impacting impoverishment and starvation.

This book invites anyone interested in economics to join the growing ranks of people who are fascinated by the insights offered by complexity research.





 
1 Introduction
1(6)
References
5(2)
2 First Nation Transition
7(6)
References
11(2)
3 Complexity, Emergence, and Evolution
13(12)
3.1 Defining Complexity
14(1)
3.2 Defining and Detecting Emergent Behaviour
15(3)
3.3 Evolution
18(3)
3.3 Evolutionary Fitness
19(1)
3.3 Fitness Test
20(1)
3.3 Evolutionary Solutions
21(1)
3.4 Summary Note
21(1)
References
21(4)
4 Agent-Based Model History and Development
25(12)
4.1 History
26(2)
4.2 Two Types of Agent-Based Models
28(2)
4.3 Agent-Based Modelling Pitfalls
30(3)
4.4 The `Model Tuning' Criticism
33(1)
References
34(3)
5 Netlogo
37(8)
5.1 Netlogo Agents and Environment
38(2)
5.2 Brief Overview of Basic Netlogo Processes
40(1)
5.3 Netlogo Random Number Generator
41(1)
5.4 Netlogo Graphs
42(1)
References
43(2)
6 Evolution in Netlogo
45(8)
6.1 Genetic Algorithms
46(2)
6.2 Evolution by Circumstance
48(2)
6.3 Evolutionary Strength
50(1)
References
51(2)
7 Verifying Model Results
53(8)
7.1 Verifying the Code
54(1)
7.2 Pattern Robustness
55(5)
7.2 Non-evolutionary Patterns
55(2)
7.2 Evolutionary Patterns
57(3)
7.3 Summary
60(1)
References
60(1)
8 Money Distribution
61(16)
8.1 The Simple Economy
63(2)
8.2 The Toy Trader Model
65(6)
8.3 Toy Trader Rationale and Definitions
71(2)
8.4 The Coefficient
73(1)
8.5 Summary
74(1)
References
75(2)
9 System Efficiency
77(12)
9.1 Defining Efficiency
78(1)
9.2 El Farol
79(1)
9.3 The Rand/Stonedahl Hypothesis
79(3)
9.4 Tor Trader Efficiency
82(3)
9.5 Summary
85(1)
References
86(3)
10 Price Basics
89(16)
10.1 Homogeneous System
90(4)
10.2 Heterogeneous Pricing
94(6)
10.2 Introducing Mutation
94(2)
10.2 Activating the Fitness Test
96(4)
10.3 A Closer Look: UK House Prices
100(1)
10.4 Summary
101(1)
References
102(3)
11 Evolutionary Price Robustness
105(10)
11.1 Pricing Algorithm Changes
106(2)
11.2 Supply and Demand Shocks
108(3)
11.3 Long- and Short-Term Price
111(2)
11.4 Summary
113(1)
References
114(1)
12 Factors Impacting Money Distribution
115(10)
12.1 Increasing Number of Trades
116(2)
12.2 Combining Market-Sight and Number of Trades
118(2)
12.3 The Special Case: Number of Trades = 3
120(1)
12.4 Agent Movement
121(2)
12.5 Summary
123(1)
Reference
123(2)
13 Introducing Life
125(20)
13.1 Metaphoria
128(1)
13.2 Building a Mortal Population
129(3)
13.3 Hunter/Gatherer Economy
132(2)
13.4 Monetary System Economy
134(5)
13.5 Surplus Food and Starvation
139(2)
13.6 Summary
141(1)
References
142(3)
14 Long-Term Economic Outcome
145(16)
14.1 Comparing Hunter/Gatherer with Trade Economy Dynamics
146(4)
14.2 Bank Profits and Wealth Equality
150(2)
14.3 Eternal Population with Mutation
152(4)
14.3 The Problem of Food Inheritance
152(3)
14.3 The Dynamics of Children
155(1)
14.4 Eternal Population with a Fitness Test
156(3)
74.5 Summary
159(1)
References
159(2)
15 Summary and Final Comments
161(6)
Reference
165(2)
Appendix: Model Descriptions and Downloads 167(14)
Index 181
Tim Gooding is a multi-discipline complexity researcher affiliated with Kingston University, London, UK. His preferred research tool is agent-based models. He is particularly fascinated by how empirical evolutionary prerequisites from markets and market-societies create predictable and repeatable shapes in which some of societys most persistent modern problems reside.