Network structure and N-dependence in agent-based herding models
AbstractWe derive microscopic foundations for a well-known probabilistic herding model in the agent-based finance literature. While the model is quite robust with respect to behavioral heterogeneity, the network structure describing the very feasibility of agent interaction turns out to have a crucial and non-trivial impact on the macroscopic properties of the model.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Dynamics and Control.
Volume (Year): 33 (2009)
Issue (Month): 1 (January)
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Web page: http://www.elsevier.com/locate/jedc
CO2 D84 D85 G19 Herding Networks Mean-field approach N-dependence;
Find related papers by JEL classification:
- CO2 - Mathematical and Quantitative Methods - - - - -
- D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
- D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
- G19 - Financial Economics - - General Financial Markets - - - Other
- Her - Public Economics - - - - -
- Net - Economic History - - - - -
- Mea - Business Administration and Business Economics; Marketing; Accounting - - - - -
- app - - - - - -
- N-d - Economic History - - - - -
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