Interaction in agent-based economics: A survey on the network approach
In this paper we aim to introduce the reader to some basic concepts and instruments used in a wide range of economic networks models. In particular, we adopt the theory of random networks as the main tool to describe the relationship between the organization of interaction among individuals within different components of the economy and overall aggregate behavior. The focus is on the ways in which economic agents interact and the possible consequences of their interaction on the system. We show that network models are able to introduce complex phenomena in economic systems by allowing for the endogenous evolution of networks.
Volume (Year): 399 (2014)
Issue (Month): C ()
|Contact details of provider:|| Web page: http://www.journals.elsevier.com/physica-a-statistical-mechpplications/|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Fudenberg, Drew & Ellison, Glenn, 1995.
"Word-of-Mouth Communication and Social Learning,"
3196300, Harvard University Department of Economics.
- Barabási, Albert-László & Albert, Réka & Jeong, Hawoong, 1999. "Mean-field theory for scale-free random networks," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 272(1), pages 173-187.
- Battiston, Stefano & Delli Gatti, Domenico & Gallegati, Mauro & Greenwald, Bruce & Stiglitz, Joseph E., 2012.
"Liaisons dangereuses: Increasing connectivity, risk sharing, and systemic risk,"
Journal of Economic Dynamics and Control,
Elsevier, vol. 36(8), pages 1121-1141.
- Stefano Battiston & Domenico Delli Gatti & Mauro Gallegati & Bruce C. Greenwald & Joseph E. Stiglitz, 2009. "Liaisons Dangereuses: Increasing Connectivity, Risk Sharing, and Systemic Risk," NBER Working Papers 15611, National Bureau of Economic Research, Inc.
- Iori, G. & Tedeschi, G., 2010.
"Herding effects in order driven markets: The rise and fall of gurus,"
10/05, Department of Economics, City University London.
- Tedeschi, Gabriele & Iori, Giulia & Gallegati, Mauro, 2012. "Herding effects in order driven markets: The rise and fall of gurus," Journal of Economic Behavior & Organization, Elsevier, vol. 81(1), pages 82-96.
- Antoni Calvó-Armengol & Matthew O. Jackson, 2004.
"The Effects of Social Networks on Employment and Inequality,"
American Economic Review,
American Economic Association, vol. 94(3), pages 426-454, June.
- Matt Jackson, 2003. "The Effects of Social Networks on Employment and Inequality," Theory workshop papers 658612000000000032, UCLA Department of Economics.
- Vega-Redondo,Fernando, 2007. "Complex Social Networks," Cambridge Books, Cambridge University Press, number 9780521857406, May.
- Jackson, Matthew O. & Watts, Alison, 2002.
"The Evolution of Social and Economic Networks,"
Journal of Economic Theory,
Elsevier, vol. 106(2), pages 265-295, October.
- W.-X. Zhou & D. Sornette, 2007. "Self-organizing Ising model of financial markets," The European Physical Journal B: Condensed Matter and Complex Systems, Springer;EDP Sciences, vol. 55(2), pages 175-181, 01.
- Matthew O. Jackson & Brian W. Rogers, 2005.
"The Economics of Small Worlds,"
Journal of the European Economic Association,
MIT Press, vol. 3(2-3), pages 617-627, 04/05.
- Matthew O. Jackson & Brian W. Rogers, 2005. "The Economics of Small Worlds," Game Theory and Information 0503004, EconWPA.
- Jackson, Matthew O. & Rogers, Brian W., 2005. "The economics of small worlds," Working Papers 1214, California Institute of Technology, Division of the Humanities and Social Sciences.
- Wilhite, Allen, 2006. "Economic Activity on Fixed Networks," Handbook of Computational Economics, in: Leigh Tesfatsion & Kenneth L. Judd (ed.), Handbook of Computational Economics, edition 1, volume 2, chapter 20, pages 1013-1045 Elsevier.
- Iori, Giulia & Jafarey, Saqib & Padilla, Francisco G., 2006. "Systemic risk on the interbank market," Journal of Economic Behavior & Organization, Elsevier, vol. 61(4), pages 525-542, December.
- Upper, Christian, 2011. "Simulation methods to assess the danger of contagion in interbank markets," Journal of Financial Stability, Elsevier, vol. 7(3), pages 111-125, August.
- Nicolaas J. Vriend, 2005.
"ACE Models of Endogenous Interactions,"
542, Queen Mary University of London, School of Economics and Finance.
- Matthew O. Jackson & Asher Wolinsky, 1994.
"A Strategic Model of Social and Economic Networks,"
1098, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Simone LENZU & Gabriele TEDESCHI, 2012.
"Systemic risk on different interbank network topologies,"
375, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
- Lenzu, Simone & Tedeschi, Gabriele, 2012. "Systemic risk on different interbank network topologies," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 391(18), pages 4331-4341.
- George Ehrhardt & Matteo Marsili & Fernando Vega-Redondo, 2006. "Diffusion and growth in an evolving network," International Journal of Game Theory, Springer;Game Theory Society, vol. 34(3), pages 383-397, October.
- Wilhite, Allen, 2001. "Bilateral Trade and 'Small-World' Networks," Computational Economics, Springer;Society for Computational Economics, vol. 18(1), pages 49-64, August.
- Kaizoji, Taisei & Bornholdt, Stefan & Fujiwara, Yoshi, 2002.
"Dynamics of price and trading volume in a spin model of stock markets with heterogeneous agents,"
Physica A: Statistical Mechanics and its Applications,
Elsevier, vol. 316(1), pages 441-452.
- Taisei Kaizoji & Stefan Bornholdt & Yoshi Fujiwara, 2002. "Dynamics of price and trading volume in a spin model of stock markets with heterogeneous agents," Papers cond-mat/0207253, arXiv.org.
- Vega-Redondo,Fernando, 2007. "Complex Social Networks," Cambridge Books, Cambridge University Press, number 9780521674096, May.
- N. Lesca, 2010. "Introduction," Post-Print halshs-00640602, HAL.
- Watts, Alison, 2001. "A Dynamic Model of Network Formation," Games and Economic Behavior, Elsevier, vol. 34(2), pages 331-341, February.
When requesting a correction, please mention this item's handle: RePEc:eee:phsmap:v:399:y:2014:i:c:p:1-15. See general information about how to correct material in RePEc.
If references are entirely missing, you can add them using this form.