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| Title | Heterogeneity, Price Discovery and Inequality in an Agent- Based Scarf Economy |
| Creator | 陳樹衡 Chen, Shu-Heng;Chie, Bin-Tzong;Kao, Ying-Fang;Magerl, Wolfgang;Venkatachalam, Ragupathy Chen, Shu-Heng |
| Contributor | 經濟系 |
| Key Words | Non-tâtonnement processes ; Coordination ; Learning Agent-based modeling ; Walrasian general equilibrium ; Heterogeneous agents |
| Date | 2018-11 |
| Date Issued | 19-Jan-2019 16:01:20 (UTC+8) |
| Summary | In this chapter, we develop an agent-based Scarf economy with heterogeneous agents, who have private prices and adaptively learn from their own experiences and those of others through a meta-learning model. We study the factors affecting the efficacy of price discovery and coordination to the Walrasian Equilibrium. We also find that payoff inequality emerges endogenously over time among the agents and this is traced back to intensity of choice (a behavioural parameter) and the associated strategy choices. Agents with high intensities of choice suffer lower payoffs if they do not explore and learn from other agents. |
| Relation | Complex Systems Modeling and Simulation in Economics and Finance, Springer International Publishing, pp.113-139 Chapter 6 |
| Type | book/chapter |
| DOI | http://dx.doi.org/10.1007/978-3-319-99624-0 |
| dc.contributor | 經濟系 | zh_TW |
| dc.creator (作者) | 陳樹衡 | |
| dc.creator (作者) | Chen, Shu-Heng;Chie, Bin-Tzong;Kao, Ying-Fang;Magerl, Wolfgang;Venkatachalam, Ragupathy | |
| dc.creator (作者) | Chen, Shu-Heng | |
| dc.date (日期) | 2018-11 | |
| dc.date.accessioned | 19-Jan-2019 16:01:20 (UTC+8) | - |
| dc.date.available | 19-Jan-2019 16:01:20 (UTC+8) | - |
| dc.date.issued (上傳時間) | 19-Jan-2019 16:01:20 (UTC+8) | - |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/122010 | - |
| dc.description.abstract (摘要) | In this chapter, we develop an agent-based Scarf economy with heterogeneous agents, who have private prices and adaptively learn from their own experiences and those of others through a meta-learning model. We study the factors affecting the efficacy of price discovery and coordination to the Walrasian Equilibrium. We also find that payoff inequality emerges endogenously over time among the agents and this is traced back to intensity of choice (a behavioural parameter) and the associated strategy choices. Agents with high intensities of choice suffer lower payoffs if they do not explore and learn from other agents. | en_US |
| dc.format.extent | 1837897 bytes | - |
| dc.format.mimetype | application/pdf | - |
| dc.relation (關聯) | Complex Systems Modeling and Simulation in Economics and Finance, Springer International Publishing, pp.113-139 Chapter 6 | |
| dc.subject (關鍵詞) | Non-tâtonnement processes ; Coordination ; Learning Agent-based modeling ; Walrasian general equilibrium ; Heterogeneous agents | en_US |
| dc.title (題名) | Heterogeneity, Price Discovery and Inequality in an Agent- Based Scarf Economy | en_US |
| dc.type (資料類型) | book/chapter | |
| dc.identifier.doi (DOI) | 10.1007/978-3-319-99624-0_6 | |
| dc.doi.uri (DOI) | http://dx.doi.org/10.1007/978-3-319-99624-0 |