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The first step-by-step introduction to the methodology of agent-based models in economics, their mathematical and statistical analysis, and real-world applications.
There is convergent consensus among scientists that many social, economic and ?nancial phenomena can be described by a network of agents and their inter- tions. Surprisingly, even though the application ?elds are quite different, those n- works often show a common behaviour. Thus, their topological properties can give useful insights on how the network is structured, which are the most “important” nodes/agents, how the network reacts to new arrivals. Moreover the network, once included into a dynamic context, helps to model many phenomena. Among the t- ics in which topology and dynamics are the essential tools, we will focus on the diffusion of technologies and fads, the rise of industri...
Though the reductionist approachto biology and medicine has led to several imp- tant advances, further progresses with respect to the remaining challenges require integration of representation, characterization and modeling of the studied systems along a wide range of spatial and time scales. Such an approach, intrinsically - lated to systems biology, is poised to ultimately turning biology into a more precise and synthetic discipline, paving the way to extensive preventive and regenerative medicine [1], drug discovery [20] and treatment optimization [24]. A particularly appealing and effective approach to addressing the complexity of interactions inherent to the biological systems is provided by the new area of c- plex networks [34, 30, 8, 13, 12]. Basically, it is an extension of graph theory [10], focusing on the modeling, representation, characterization, analysis and simulation ofcomplexsystemsbyconsideringmanyelementsandtheirinterconnections.C- plex networks concepts and methods have been used to study disease [17], tr- scription networks [5, 6, 4], protein-protein networks [22, 36, 16, 39], metabolic networks [23] and anatomy [40].
Recent developments in economics have gone from the recognition of the importance of innovation for growth and the exploration of innovation mechanisms to the incorporation of the results of the previous research into economic models. An important lesson to be drawn from all this research is that a purely macro-based analysis of growth is not enough. The various mechanisms of innovation creation and diffusion, the importance of agent heterogeneity, of market selection processes, of the internal organization of the firm and of organizational routines, and the obsolescence and the consequent emergence of new types of capital goods are a few examples of micro-economic phenomena that contribute decisively to macro-economic development. The papers in this volume approach those issues from a Schumpeterian point of view and tackle issues like the growing importance of knowledge and human capital; increasing returns and path dependence; the role of variety in economic growth; competition and industry evolution.
This unique volume introduces and discusses the methods of validating computer simulations in scientific research. The core concepts, strategies, and techniques of validation are explained by an international team of pre-eminent authorities, drawing on expertise from various fields ranging from engineering and the physical sciences to the social sciences and history. The work also offers new and original philosophical perspectives on the validation of simulations. Topics and features: introduces the fundamental concepts and principles related to the validation of computer simulations, and examines philosophical frameworks for thinking about validation; provides an overview of the various str...
This volume sheds light on the current state of complex networks and nonlinear dynamics applied to the understanding of economic and social phenomena ranging from geographical economics to macroeconomics and finance, and its purpose is to give readers an overview of several interesting topics for research at an intermediate level. Three different and interdisciplinary, but complementary, aspects of networks are put together in a single piece, namely: (i) complex networks theory, (ii) applied network analysis to social and economic interrelations, and (iii) dynamical evolution of systems and networks. The volume includes contributions from excellent scholars in economics and social sciences as well as leading experts in the fields of complex networks and nonlinear dynamics.
La integración financiera, y del sistema bancaria en particular, han sido objeto de atención durante más de treinta años entre académicos, decisores políticos y técnicos del sector. Aunque varios factores incidan en esta tendencia ascendente, existe bastante consenso respecto a las ventajas de la integración, que son diversas y sustanciales. Sin embargo, la crisis financiera de 2007-2008 ha puesto en cuestión su expansión, dando lugar a una mayor diversidad de opiniones sobre el impacto global de una integración financiera y bancaria reforzada. En los cinco capítulos del libro se analiza de qué forma la reciente crisis financiera internacional ha contribuido a relanzar el debate...
Silicon Valley is the most salient example of high-tech industrial clusters. Public policymakersthroughouttheworldwouldliketolearnthesecretsofSiliconValley in order to build their own high-tech economies. The existing literature on ind- trial clusters, which traces back to Marshall (1920), focuses on the way in which ?rms bene?t from locating in a cluster; it suggests that once a cluster comes into existence, it tends to reinforce itself by attracting more ?rms. However, a more important question is how to reach this critical mass in the ?rst place. In contrast to the literature, evidence suggests that entrepreneurs rarely move when they est- lish high-tech start-ups (Cooper and Folta, 2000)...
In 1972, the first Report for the Club of Rome - The Limits to Growth - famously spelled out the unsustainable consequences of an economic system that demands infinite growth in a finite world. Just as The Limits to Growth exposed the catastrophic flaws in our economic system, this new Report from the Club of Rome exposes the systemic flaws in our money system and the wrong thinking that underpins it. It describes the ongoing currency and banking crises we must expect if we continue with the current monopoly system - and the vicious impact of these crises on our communities, our society as a whole and our environment. Our money system is outdated, brittle and unfit for purpose. It is respons...
Politics is intuitively about relationships, but until recently the network perspective has not been a dominant part of the methodological paradigm that political scientists use to study politics. This volume is a foundational statement about networks in the study of politics.