IDEAS home Printed from https://ideas.repec.org/p/isu/genstf/201401010800004899.html
   My bibliography  Save this paper

Stepping into new territory: Three essays on agent-based computational economics and environmental economics

Author

Listed:
  • Ge, Jiaqi

Abstract

This dissertation explores various new tools and methodologies in economic research to study real-world social and economic systems. I am interested in developing research tools tailor-made to solve important social and economic issues. I am also interested in designing tools that are flexible and adaptable enough to be used in future research. The tools explored in the dissertation include agent-based computational modeling, meta-analysis methodology, as well as other analytic and empirical methodologies. In addition to tool building, I am interested in studying the complex and evolving nature of real-world social and economic systems. The issues studied in the dissertation range from water protection to housing market crises. The dissertation aims to expand the available toolkit for economic research, to establish a connection between conventional and new tools and push the research frontier, to answer important research questions and to solve real-world problems.

Suggested Citation

  • Ge, Jiaqi, 2014. "Stepping into new territory: Three essays on agent-based computational economics and environmental economics," ISU General Staff Papers 201401010800004899, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genstf:201401010800004899
    as

    Download full text from publisher

    File URL: https://dr.lib.iastate.edu/server/api/core/bitstreams/b424eab0-458f-4130-8a0c-14490a90e782/content
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. LeBaron, Blake, 2000. "Agent-based computational finance: Suggested readings and early research," Journal of Economic Dynamics and Control, Elsevier, vol. 24(5-7), pages 679-702, June.
    2. Leggett, Christopher G. & Bockstael, Nancy E., 2000. "Evidence of the Effects of Water Quality on Residential Land Prices," Journal of Environmental Economics and Management, Elsevier, vol. 39(2), pages 121-144, March.
    3. Douglas A. Greenley & Richard G. Walsh & Robert A. Young, 1981. "Option Value: Empirical Evidence from a Case Study of Recreation and Water Quality," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 96(4), pages 657-673.
    4. Matteo Iacoviello, 2005. "House Prices, Borrowing Constraints, and Monetary Policy in the Business Cycle," American Economic Review, American Economic Association, vol. 95(3), pages 739-764, June.
    5. Stefan Thurner & J. Doyne Farmer & John Geanakoplos, 2012. "Leverage causes fat tails and clustered volatility," Quantitative Finance, Taylor & Francis Journals, vol. 12(5), pages 695-707, February.
    6. John Geanakoplos & Robert Axtell & J. Doyne Farmer & Peter Howitt & Benjamin Conlee & Jonathan Goldstein & Matthew Hendrey & Nathan M. Palmer & Chun-Yi Yang, 2012. "Getting at Systemic Risk via an Agent-Based Model of the Housing Market," American Economic Review, American Economic Association, vol. 102(3), pages 53-58, May.
    7. Kling, Catherine L. & Bockstael, Nancy & Hanemann, W. Michael, 1987. "Estimating the Value of Water Quality Improvements in a Recreational Demand Framework," Staff General Research Papers Archive 1594, Iowa State University, Department of Economics.
    8. Heslop, Louise A & McGregor, Eileen & Griffith, May, 2001. "Development of a Technology Readiness Assessment Measure: The Cloverleaf Model of Technology Transfer," The Journal of Technology Transfer, Springer, vol. 26(4), pages 369-384, October.
    9. Kevin J. Boyle & P. Joan Poor & Laura O. Taylor, 1999. "Estimating the Demand for Protecting Freshwater Lakes from Eutrophication," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(5), pages 1118-1122.
    10. Glaeser, Edward L. & Gyourko, Joseph & Saiz, Albert, 2008. "Housing supply and housing bubbles," Journal of Urban Economics, Elsevier, vol. 64(2), pages 198-217, September.
    11. Donald J. Epp & K. S. Al-Ani, 1979. "The Effect of Water Quality on Rural Nonfarm Residential Property Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(3), pages 529-534.
    12. Christopher Mayer, 2011. "Housing Bubbles: A Survey," Annual Review of Economics, Annual Reviews, vol. 3(1), pages 559-577, September.
    13. James M. Poterba, 1984. "Tax Subsidies to Owner-Occupied Housing: An Asset-Market Approach," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 99(4), pages 729-752.
    14. Egan, Kevin J. & Herriges, Joseph A. & Kling, Catherine L. & Downing, John A., 2008. "AJAE appendix for “Valuing Water Quality as a Function of Water Quality Measures”," American Journal of Agricultural Economics APPENDICES, Agricultural and Applied Economics Association, vol. 91(1), pages 1-3, April.
    15. John K. Mullen & Fredric C. Menz, 1985. "The Effect of Acidification Damages on the Economic Value of the Adirondack Fishery to New York Anglers," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(1), pages 112-119.
    16. Husslage, B.G.M. & Rennen, G. & van Dam, E.R. & den Hertog, D., 2011. "Space-filling Latin hypercube designs for computer experiments," Other publications TiSEM 694f73df-a373-46a7-aa4d-1, Tilburg University, School of Economics and Management.
    17. Tesfatsion, Leigh S., 2002. "Agent-Based Computational Economics: Growing Economies from the Bottom Up," Staff General Research Papers Archive 5075, Iowa State University, Department of Economics.
    18. Case, Karl E & Shiller, Robert J, 1989. "The Efficiency of the Market for Single-Family Homes," American Economic Review, American Economic Association, vol. 79(1), pages 125-137, March.
    19. V. Kerry Smith & William H. Desvousges & Ann Fisher, 1986. "A Comparison of Direct and Indirect Methods for Estimating Environmental Benefits," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 68(2), pages 280-290.
    20. Lipton, Douglas W., 2003. "The Value Of Improved Water Quality To Chesapeake Bay Boaters," Working Papers 28603, University of Maryland, Department of Agricultural and Resource Economics.
    21. Mathews, Leah Greden & Homans, Frances R. & Easter, K. William, 1999. "Reducing Phosphorus Pollution In The Minnesota River: How Much Is It Worth?," Staff Papers 13771, University of Minnesota, Department of Applied Economics.
    22. Silos, Pedro, 2007. "Housing, portfolio choice and the macroeconomy," Journal of Economic Dynamics and Control, Elsevier, vol. 31(8), pages 2774-2801, August.
    23. Robert J. Johnston & Elena Y. Besedin & Richard Iovanna & Christopher J. Miller & Ryan F. Wardwell & Matthew H. Ranson, 2005. "Systematic Variation in Willingness to Pay for Aquatic Resource Improvements and Implications for Benefit Transfer: A Meta‐Analysis," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 53(2‐3), pages 221-248, June.
    24. Gilli, M. & Winker, P., 2003. "A global optimization heuristic for estimating agent based models," Computational Statistics & Data Analysis, Elsevier, vol. 42(3), pages 299-312, March.
    25. Mankiw, N. Gregory & Weil, David N., 1989. "The baby boom, the baby bust, and the housing market," Regional Science and Urban Economics, Elsevier, vol. 19(2), pages 235-258, May.
    26. Whitehead, John C., 2005. "Combining willingness to pay and behavior data with limited information," Resource and Energy Economics, Elsevier, vol. 27(2), pages 143-155, June.
    27. Gode, Dhananjay K & Sunder, Shyam, 1993. "Allocative Efficiency of Markets with Zero-Intelligence Traders: Market as a Partial Substitute for Individual Rationality," Journal of Political Economy, University of Chicago Press, vol. 101(1), pages 119-137, February.
    28. Sommervoll, Dag Einar & Borgersen, Trond-Arne & Wennemo, Tom, 2010. "Endogenous housing market cycles," Journal of Banking & Finance, Elsevier, vol. 34(3), pages 557-567, March.
    29. Magat, Wesley A. & Huber, Joel & Viscusi, W. Kip & Bell, Jason, 2000. "An Iterative Choice Approach to Valuing Clean Lakes, Rivers, and Streams," Journal of Risk and Uncertainty, Springer, vol. 21(1), pages 7-43, July.
    30. Jeremy C. Stein, 1995. "Prices and Trading Volume in the Housing Market: A Model with Down-Payment Effects," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(2), pages 379-406.
    31. Leigh Tesfatsion & Kenneth L. Judd (ed.), 2006. "Handbook of Computational Economics," Handbook of Computational Economics, Elsevier, edition 1, volume 2, number 2.
    32. Farber, Stephen & Griner, Brian, 2000. "Valuing watershed quality improvements using conjoint analysis," Ecological Economics, Elsevier, vol. 34(1), pages 63-76, July.
    33. Steinnes, Donald N, 1992. "Measuring the Economic Value of Water Quality: The Case of Lakeshore Land," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 26(2), pages 171-176, June.
    34. Carlo Bianchi & Pasquale Cirillo & Mauro Gallegati & Pietro Vagliasindi, 2007. "Validating and Calibrating Agent-Based Models: A Case Study," Computational Economics, Springer;Society for Computational Economics, vol. 30(3), pages 245-264, October.
    35. Huang, Ju-Chin & Boyle, Kevin J. & Halstead, John M. & Gibbs, Julie P., 2002. "An Hedonic Analysis of the Effects of Lake Water Clarity on New Hampshire Lakefront Properties," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 31(1), pages 1-8, April.
    36. Li, Hongyan & Tesfatsion, Leigh, 2009. "Development of Open Source Software for Power Market Research: The AMES Test Bed," ISU General Staff Papers 200901010800001391, Iowa State University, Department of Economics.
    37. Torrens, Paul M., 2001. "New Tools for Simulating Housing Choices," Berkeley Program on Housing and Urban Policy, Working Paper Series qt6qs0w2w1, Berkeley Program on Housing and Urban Policy.
    38. John A. Downing, 2009. "Valuing Water Quality as a Function of Water Quality Measures," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(1), pages 106-123.
    39. Rick L. Williams, 2000. "A Note on Robust Variance Estimation for Cluster-Correlated Data," Biometrics, The International Biometric Society, vol. 56(2), pages 645-646, June.
    40. Basil E. Stumborg & Kenneth A. Baerenklau & Richard C. Bishop, 2001. "Nonpoint Source Pollution and Present Values: A Contingent Valuation Study of Lake Mendota," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 23(1), pages 120-132.
    41. Karl E. Case & Robert J. Shiller, 2003. "Is There a Bubble in the Housing Market?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(2), pages 299-362.
    42. Christopher D. Azevedo & Joseph A. Herriges & Catherine L. Kling, 2001. "Valuing Preservation and Improvements of Water Quality in Clear Lake," Center for Agricultural and Rural Development (CARD) Publications 01-sr94, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    43. Van Houtven, George & Powers, John & Pattanayak, Subhrendu K., 2007. "Valuing water quality improvements in the United States using meta-analysis: Is the glass half-full or half-empty for national policy analysis?," Resource and Energy Economics, Elsevier, vol. 29(3), pages 206-228, September.
    44. Sheri Markose & Simone Giansante & Mateusz Gatkowski & Ali Rais Shaghaghi, 2010. "Too Interconnected To Fail: Financial Contagion and Systemic Risk In Network Model of CDS and Other Credit Enhancement Obligations of US Banks," Working Papers 033, COMISEF.
    45. Johnston, Robert J. & Swallow, Stephen K. & Weaver, Thomas F., 1999. "Estimating Willingness to Pay and Resource Tradeoffs with Different Payment Mechanisms: An Evaluation of a Funding Guarantee for Watershed Management," Journal of Environmental Economics and Management, Elsevier, vol. 38(1), pages 97-120, July.
    46. Robert Axtell, 1999. "The Emergence of Firms in a Population of Agents," Working Papers 99-03-019, Santa Fe Institute.
    47. Desvousges, William H. & Smith, V. Kerry & Fisher, Ann, 1987. "Option price estimates for water quality improvements: A contingent valuation study for the monongahela river," Journal of Environmental Economics and Management, Elsevier, vol. 14(3), pages 248-267, September.
    48. Joshua M. Epstein & Robert L. Axtell, 1996. "Growing Artificial Societies: Social Science from the Bottom Up," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262550253, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ge, Jiaqi & Kling, Catherine L. & Herriges, Joseph A., 2013. "How much is clean water worth? Valuing water quality improvement using a meta analysis," ISU General Staff Papers 201302250800001050, Iowa State University, Department of Economics.
    2. Robert J. Johnston & Elena Y. Besedin & Ryan Stapler, 2017. "Enhanced Geospatial Validity for Meta-analysis and Environmental Benefit Transfer: An Application to Water Quality Improvements," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 68(2), pages 343-375, October.
    3. Van Houtven, George & Powers, John & Pattanayak, Subhrendu K., 2007. "Valuing water quality improvements in the United States using meta-analysis: Is the glass half-full or half-empty for national policy analysis?," Resource and Energy Economics, Elsevier, vol. 29(3), pages 206-228, September.
    4. Kuwayama, Yusuke & Olmstead, Sheila & Zheng, Jiameng, 2022. "A more comprehensive estimate of the value of water quality," Journal of Public Economics, Elsevier, vol. 207(C).
    5. Robert J. Johnston & Elena Y. Besedin & Benedict M. Holland, 2019. "Modeling Distance Decay Within Valuation Meta-Analysis," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 72(3), pages 657-690, March.
    6. Patrick J. Walsh & J. Walter Milon, 2016. "Nutrient Standards, Water Quality Indicators, and Economic Benefits from Water Quality Regulations," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(4), pages 643-661, August.
    7. Dennis Guignet & Matthew T. Heberling & Michael Papenfus & Olivia Griot, 2022. "Property Values, Water Quality, and Benefit Transfer: A Nationwide Meta-analysis," Land Economics, University of Wisconsin Press, vol. 98(2), pages 191-218.
    8. Piazzesi, M. & Schneider, M., 2016. "Housing and Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1547-1640, Elsevier.
    9. Roberto Dieci & Frank Westerhoff, 2012. "A simple model of a speculative housing market," Journal of Evolutionary Economics, Springer, vol. 22(2), pages 303-329, April.
    10. Cropper, Maureen L. & Isaac, William, 2011. "The Benefits of Achieving the Chesapeake Bay TMDLs (Total Maximum Daily Loads): A Scoping Study," RFF Working Paper Series dp-11-31, Resources for the Future.
    11. Johnston, Robert J. & Besedin, Elena Y. & Ranson, Matthew H., 2006. "Characterizing the effects of valuation methodology in function-based benefits transfer," Ecological Economics, Elsevier, vol. 60(2), pages 407-419, December.
    12. Alvarez, Sergio & Asci, Serhat, 2014. "Estimating the Benefits of Water Quality Improvements Using Meta-Analysis and Benefits Transfer," 2014 Annual Meeting, February 1-4, 2014, Dallas, Texas 162534, Southern Agricultural Economics Association.
    13. Sun, Xiaojin & Tsang, Kwok Ping, 2019. "Large price movements in housing markets," Journal of Economic Behavior & Organization, Elsevier, vol. 163(C), pages 1-23.
    14. Detlef Seese & Christof Weinhardt & Frank Schlottmann (ed.), 2008. "Handbook on Information Technology in Finance," International Handbooks on Information Systems, Springer, number 978-3-540-49487-4, November.
    15. Flaminio Squazzoni, 2010. "The impact of agent-based models in the social sciences after 15 years of incursions," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 18(2), pages 197-234.
    16. Dieci, Roberto & Westerhoff, Frank, 2016. "Heterogeneous expectations, boom-bust housing cycles, and supply conditions: A nonlinear economic dynamics approach," Journal of Economic Dynamics and Control, Elsevier, vol. 71(C), pages 21-44.
    17. Wolf, David & Klaiber, H. Allen, 2017. "Bloom and bust: Toxic algae's impact on nearby property values," Ecological Economics, Elsevier, vol. 135(C), pages 209-221.
    18. Dieci, Roberto & Westerhoff, Frank, 2015. "Heterogeneous expectations, boom-bust housing cycles, and supply conditions: A nonlinear dynamics approach," BERG Working Paper Series 99, Bamberg University, Bamberg Economic Research Group.
    19. Sarah Nicholls & John Crompton, 2018. "A Comprehensive Review of the Evidence of the Impact of Surface Water Quality on Property Values," Sustainability, MDPI, vol. 10(2), pages 1-30, February.
    20. Rebecca Moore & Bill Provencher & Richard C. Bishop, 2011. "Valuing a Spatially Variable Environmental Resource: Reducing Non-Point-Source Pollution in Green Bay, Wisconsin," Land Economics, University of Wisconsin Press, vol. 87(1), pages 45-59.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:isu:genstf:201401010800004899. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Curtis Balmer (email available below). General contact details of provider: https://edirc.repec.org/data/deiasus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.