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Growth and allocation of resources in economics: The agent-based approach

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  • Scalas, Enrico
  • Gallegati, Mauro
  • Guerci, Eric
  • Mas, David
  • Tedeschi, Alessandra

Abstract

Some agent-based models for growth and allocation of resources are described. The first class considered consists of conservative models, where the number of agents and the size of resources are constant during time evolution. The second class is made up of multiplicative noise models and some of their extensions to continuous time.

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Bibliographic Info

Article provided by Elsevier in its journal Physica A: Statistical Mechanics and its Applications.

Volume (Year): 370 (2006)
Issue (Month): 1 ()
Pages: 86-90

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Handle: RePEc:eee:phsmap:v:370:y:2006:i:1:p:86-90

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Web page: http://www.journals.elsevier.com/physica-a-statistical-mechpplications/

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Keywords: Equilibrium; Growth;

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References

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  1. Enrico Scalas & Rudolf Gorenflo & Francesco Mainardi, 2000. "Fractional calculus and continuous-time finance," Papers cond-mat/0001120, arXiv.org.
  2. Masanao Aoki, 2001. "Modeling Aggregate Behavior and Fluctuations in Economics: Stochastic Views of Interacting Agents," UCLA Economics Online Papers 142, UCLA Department of Economics.
  3. Francesco Mainardi & Marco Raberto & Rudolf Gorenflo & Enrico Scalas, 2004. "Fractional calculus and continuous-time finance II: the waiting- time distribution," Finance 0411008, EconWPA.
  4. Domenico Delli Gatti & Corrado Di Guilmi & Edoardo Gaffeo & Gianfranco Giulioni & Mauro Gallegati & Antonio Palestrini, 2004. "Business Cycle Fluctuations And Firms' Size Distribution Dynamics," Advances in Complex Systems (ACS), World Scientific Publishing Co. Pte. Ltd., vol. 7(02), pages 223-240.
  5. Enrico Scalas, 2005. "Five Years of Continuous-time Random Walks in Econophysics," Papers cond-mat/0501261, arXiv.org.
  6. Adrian Dragulescu & Victor M. Yakovenko, 2000. "Statistical mechanics of money," Papers cond-mat/0001432, arXiv.org, revised Aug 2000.
  7. Scalas, Enrico, 2006. "The application of continuous-time random walks in finance and economics," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 362(2), pages 225-239.
  8. Aoki,Masanao, 2004. "Modeling Aggregate Behavior and Fluctuations in Economics," Cambridge Books, Cambridge University Press, number 9780521606196.
  9. Bottazzi, Giulio & Secchi, Angelo, 2003. "Why are distributions of firm growth rates tent-shaped?," Economics Letters, Elsevier, vol. 80(3), pages 415-420, September.
  10. Champernowne,D. G. & Cowell,F. A., 1999. "Economic Inequality and Income Distribution," Cambridge Books, Cambridge University Press, number 9780521580557.
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Citations

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Cited by:
  1. Einar Erlingsson & Simone Alfarano & Marco Raberto & Hlynur Stefánsson, 2013. "On the distributional properties of size, profit and growth of Icelandic firms," Journal of Economic Interaction and Coordination, Springer, vol. 8(1), pages 57-74, April.
  2. Pavel Exner & Petr \v{S}eba, 2007. "A Markov process associated with plot-size distribution in Czech Land Registry and its number-theoretic properties," Papers 0711.1836, arXiv.org, revised Dec 2007.
  3. Carmen Pellicer-Lostao & Ricardo Lopez-Ruiz, 2011. "Application of Chaotic Number Generators in Econophysics," Papers 1110.4506, arXiv.org, revised Oct 2011.
  4. Angle, John, 2011. "The particle system model of income and wealth more likely to imply an analogue of thermodynamics in social science," MPRA Paper 28864, University Library of Munich, Germany.

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