Titlebook: Interaction and Market Structure; Essays on Heterogene Domenico Delli Gatti,Mauro Gallegati,Alan Kirman Conference proceedings 2000 Springe

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,Agents’ Heterogeneity, Aggregation, and Economic Fluctuations,from a New Keynesian macroeconomic model with imperfect capital markets. In order to analyze the interaction between real and financial variables, we have focussed on the degree of financial fragility of the economy, as proxied by the ratio of corporate net worth to the stock of capital, that is the

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The Dynamic Interaction of Rational Fundamentalists and Trend Chasing Chartists in a Monetary Econons. The fundamentalists form inflationary expectations rationally in the traditional sense in that they have full knowledge of the economic environment. The chartists form expectations by using standard trend chasing expectations schemes. As inflation acceleratesfdeccelerates an increasing proportio

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Self-Organization in Global Stochastic Models of Production and Inventory Dynamics,to-Levy type of aggregate distributions emerge in global models as well as in local models. We extend the BCSW model by allowing random connections between firms. The distribution of production in the economy follows a power law probability distribution. In addition, the long-run frequency distribut

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Heterogeneous Agents, Complementarities, and Diffusion,eturns and externalities, heterogenous agents and stochastic adoptions. We build and refine upon previous results from Bassanini and Dosi (1998), where a) we show the conditions of convergence to either technological monopoly or market sharing ultimately depending on the balance between increasing r

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Expectation Formation in a Cobweb Economy: Some One Person Experiments,amic economic model, agents beliefs about the future have to be modeled. Do people form expectations using a simple rule of thumb or do they use a continually updated forecasting rule? Can people learn a . This paper describes experiments where we investigate how people form expectations in the simp

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Fecund, Cheap and Out of Control: Heterogeneous Economic Agents as Flawed Computers vs. Markets as nts, and argue in favor of the option which we feel has suffered relative neglect. The first option, perhaps best represented by the work of Alan Kirman, but found throughout the avant garde of the profession, tends to characterize agents as flawed automata or limited computational entities. Exercis

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