Complexity in Economics: Emerging macro behaviour from micro interactions

In this book we depart from the General Equilibrium theory with its godlike Walrasian Auctioneer and fully rational and perfectly foresighted agents. We build an evolving network of fully decentralized trades among bounded rational, adaptive agents, where explanations are not derived deductively, but generated from the analysis of interactions. The aim of this work is to build a model which, through simple rules of behaviour of agents at an individual level, manages to produce some empirical regularities at a micro and at a macro level. Such a model could be used in the future as a computational laboratory for conducting policy experiments.

Author: Eniel Ninka

Publisher: Createspace Independent Publishing Platform

Publication Date: Jun 25, 2012

Number of Pages: 124 pages

Binding: Paperback or Softback

ISBN-10: 1502782502

ISBN-13: 9781502782502