Agent-Based Computer Simulation of Dichotomous Economic Growth

Agent-Based Computer Simulation of Dichotomous Economic Growth

Author: Roger A. McCain

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 164

ISBN-13: 1461546133

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Agent-Based Computer Simulation of Dichotomous Economic Growth reports a project in agent-based computer stimulation of processes of economic growth in a population of boundedly rational learning agents. The study is an exercise in comparative simulation. That is, the same family of growth models will be simulated under different assumptions about the nature of the learning process and details of the production and growth processes. The purpose of this procedure is to establish a relationship between the assumptions and the simulation results. The study brings together a number of theoretical and technical developments, only some of which may be familiar to any particular reader. In this first chapter, some issues in economic growth are reviewed and the objectives of the study are outlined. In the second chapter, the simulation techniques are introduced and illustrated with baseline simulations of boundedly rational learning processes that do not involve the complications of dealing with long-run economic growth. The third chapter sketches the consensus modern theory of economic growth which is the starting point for further study. In the fourth chapter, a family of steady growth models are simulated, bringing the simulation, growth and learning aspects of the study together. In subsequent chapters, variants on the growth model are explored in a similar way. The ninth chapter introduces trade, with a spacial trading model that is combined with the growth model in the tenth chapter. The book returns again and again to the key question: to what extent can the simulations `explain' the puzzles of economic growth, and particularly the key puzzle of dichotomization, by constructing growth and learning processes that produce the puzzling results? And just what assumptions of the simulations are most predictable associated with the puzzling results?


Quantitative Economic Policy

Quantitative Economic Policy

Author: Reinhard Neck

Publisher: Springer Science & Business Media

Published: 2008-03-04

Total Pages: 386

ISBN-13: 3540746846

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Econometric techniques and models are still being extensively used in the business of forecasting and policy advice. This book presents recent advances in the theory and applications of quantitative economic policy, with particular emphasis on fiscal and monetary policies in a European and global context. The volume honors Andrew Hughes Hallett, a pioneer and major scientist in quantitative economic policy analysis, whose contributors are among his friends and former students.


The Rational Expectation Hypothesis, Time-Varying Parameters and Adaptive Control

The Rational Expectation Hypothesis, Time-Varying Parameters and Adaptive Control

Author: Marco P. Tucci

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 268

ISBN-13: 1402028741

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One of the major controversies in macroeconomics over the last 30 years has been that on the effectiveness of stabilization policies. However, this debate, between those who believe that this kind of policies is useless if not harmful and those who argue in favor of it, has been mainly theoretical so far. The Rational Expectation Hypothesis, Time-Varying Parameters and Adaptive Control wants to represent a step toward the construction of a common ground on which to empirically compare the two "beliefs" and to do this three strands of literature are brought together. The first strand is the research on time-varying parameters (TVP), the second strand is the work on adaptive control and the third one is the literature on linear stationary models with rational expectations (RE). The material presented in The Rational Expectation Hypothesis, Time-Varying Parameters and Adaptive Control is divided into two parts. Part 1 combines the strand of literature on adaptive control with that on TVP. It generalizes the approach pioneered by Tse and Bar-Shalom (1973) and Kendrick (1981) and one recently used in Amman and Kendrick (2002), where the law of motion of the TVP and the hyperstructural parameters are assumed known, to the case where the hyperstructural parameters are assumed unknown. Part 2 is devoted to the linear single-equation stationary RE model estimated with the error-in-variables (EV) method. It presents a new formulation of this problem based on the use of TVP in an EV model. This new formulation opens the door to a very promising development. All the theory developed in the first part to control a model with TVP can sic et simpliciter be applied to control a model with RE.


PRICAI 2002: Trends in Artificial Intelligence

PRICAI 2002: Trends in Artificial Intelligence

Author: Mitsuru Ishizuka

Publisher: Springer Science & Business Media

Published: 2002-08-07

Total Pages: 643

ISBN-13: 3540440380

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This book constitutes the refereed proceedings of the 7th Pacific Rim International Conference on Artificial Intelligence, PRICAI 2002, held in Tokyo, Japan in August 2002. The 57 revised full papers presented together with 5 invited contributions and 26 posters were carefully reviewed and selected from 161 submissions. The papers are organized in topical sections on logic and AI foundations, representation and reasoning of actions, constraint satisfaction, foundations of agents, foundations of learning, reinforcement learning, knowledge acquisition and management, data mining and knowledge discovery, neural network learning, learning for robots, multi-agent applications, document analysis, Web intelligence, bioinformatics, intelligent learning environments, face recognition, and multimedia and emotion.


Parallel Algorithms for Linear Models

Parallel Algorithms for Linear Models

Author: Erricos Kontoghiorghes

Publisher: Springer Science & Business Media

Published: 2000-01-31

Total Pages: 216

ISBN-13: 9780792377207

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Parallel Algorithms for Linear Models provides a complete and detailed account of the design, analysis and implementation of parallel algorithms for solving large-scale linear models. It investigates and presents efficient, numerically stable algorithms for computing the least-squares estimators and other quantities of interest on massively parallel systems. The monograph is in two parts. The first part consists of four chapters and deals with the computational aspects for solving linear models that have applicability in diverse areas. The remaining two chapters form the second part, which concentrates on numerical and computational methods for solving various problems associated with seemingly unrelated regression equations (SURE) and simultaneous equations models. The practical issues of the parallel algorithms and the theoretical aspects of the numerical methods will be of interest to a broad range of researchers working in the areas of numerical and computational methods in statistics and econometrics, parallel numerical algorithms, parallel computing and numerical linear algebra. The aim of this monograph is to promote research in the interface of econometrics, computational statistics, numerical linear algebra and parallelism.


International Bibliography of Economics

International Bibliography of Economics

Author: Compiled by the British Library of Political and Economic Science

Publisher: Psychology Press

Published: 2001-11-22

Total Pages: 720

ISBN-13: 9780415262361

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IBSS is the essential tool for librarians, university departments, research institutions and any public or private institution whose work requires access to up-to-date and comprehensive knowledge of the social sciences.


Comparing Fairness

Comparing Fairness

Author: McCain, Roger A.

Publisher: Edward Elgar Publishing

Published: 2021-08-27

Total Pages: 240

ISBN-13: 1839108029

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Economic theory and philosophy have discussed concepts of fairness, but the criteria of fairness are in each case absolute: a situation is either fair or it is not. This book draws on these literatures to propose two criteria of relative fairness, and a hierarchical rule for the priority of application of these criteria, with a view to comparison of practicable alternatives in public policy.


Management in the Age of Digital Business Complexity

Management in the Age of Digital Business Complexity

Author: Bill McKelvey

Publisher: Taylor & Francis

Published: 2021-09-07

Total Pages: 287

ISBN-13: 1000393739

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Management in the Age of Digital Business Complexity focuses on how the digital age is changing management and vastly speeding up complexity dynamics. The recent coevolution of technologies has dramatically changed in just a few years how people and firms learn, communicate, and behave. Consequently, the process of how firms coevolve and the speed at which they coevolve has been dramatically changed in the digital age, and managerial methods are lagging way behind. Combining his own expertise with that of a number of specialist and international co-authors, McKelvey conveys how companies that fall behind digitally can quickly be driven out of business. The book has been created for academics seeking to upgrade management thinking into the modern digital age and vastly improve the change capabilities of firms facing digital-oriented competition.


The SAGE Handbook of Organization Studies

The SAGE Handbook of Organization Studies

Author: Stewart R Clegg

Publisher: SAGE

Published: 2006-06-21

Total Pages: 920

ISBN-13: 1446206890

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Praise for the award winning First Edition: ′This handbook is organized to help teachers and students to cover the mainstream work in the field of organization studies. This is an excellent reference tool with which to study organizational theory and practice′ - International Review of Administrative Sciences ′The editors have put together an impressive reference work, serious in intent and rigorous in implementation. As a publishing achievement, and a scholarly ′event′ in the field, SAGE is to be congratulated. It is designed as a work of synthesis, to link past and present, general and specific′ - Journal of General Management Praise for the New Edition: ′An excellent collection of papers giving a timely overview of the field′ - Gareth Morgan ′In this substantially updated, revised and extended edition of the widely acclaimed Handbook, the high standard of the contributions is maintained. Close consideration is given to newly emergent, such as networks and complexity, as well as more established topics. Metaphors of conversation and discourse are engagingly invoked to make and explore new distinctions, directions and connections. It is a key reference volume for more advanced students of this rapidly developing field′ - Hugh Willmott , Diageo Professor of Management Studies, Judge Business School, University of Cambridge ′Giving the authors of the Handbook of Organization Studies the opportunity to revise and update their earlier contributions makes this handbook unique. Comparing the revised chapters to their originals offers the reader unparalleled insight into how knowledge develops in our discipline. New frameworks and deeper understandings, grounded in continuing scholarship, abound in this updated classic′ - Mary Jo Hatch, C. Coleman McGehee Eminent Scholars Research Professor of Banking and Commerce McIntire School of Commerce, University of Virginia A decade after it first published to international acclaim, the seminal Handbook of Organization Studies has been updated to capture exciting new developments in the field. Providing a retrospective and prospective overview of organization studies, the Handbook continues to challenge and inspire readers with its synthesis of knowledge and literature. As ever, contributions have been selected to reflect the diversity of the field. New chapters cover areas such as organizational change; knowledge management; and organizational networks. Part One reflects on the relationship between theory, research and practice in organization studies. Part Two address a number of the most significant issues to affect organization studies such as leadership, diversity and globalization. Comprehensive and far-reaching, this important resource will set new standards for the understanding of organizational studies. It will be invaluable to researchers, teachers and advanced students alike.


Approaching Equality

Approaching Equality

Author: Roger A. McCain

Publisher: Edward Elgar Publishing

Published: 2017-05-26

Total Pages: 303

ISBN-13: 1786431440

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Drawing on some recent research (especially that of Piketty and his associates) and on older ideas (particularly from Sir Arthur Lewis), Roger McCain proposes policies that, together, would aim to reverse the observed tendency towards the concentration of wealth in market economies, thus ‘approach equality.’ The shortcomings and dangers of rising wealth inequality are discussed, both from the point of view of increasing instability and of equalitarian values.