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Financial Fragility and Scaling Distributions in the Laboratory

In: The Complex Networks of Economic Interactions

Author

Listed:
  • Giovanna Devetag

    (University of Trento)

  • Edoardo Gaffeo

    (University of Trento
    Politechnic University of Marche)

  • Mauro Gallegati

    (Politechnic University of Marche)

  • Gianfranco Giulioni

    (DMQTE University of Chieti-Pescara
    Politechnic University of Marche)

Abstract

Summary We present results from human and computer-based experiments aimed at exploring the role of rationality and financial markets in explaining the emergence of some well-known stylized facts regarding industrial and aggregate dynamics. We find that the information conveyed by financial markets helps agents adopt more rational decision processes. Rationality, in turn, is necessary to observe smooth aggregate behaviors.

Suggested Citation

  • Giovanna Devetag & Edoardo Gaffeo & Mauro Gallegati & Gianfranco Giulioni, 2006. "Financial Fragility and Scaling Distributions in the Laboratory," Lecture Notes in Economics and Mathematical Systems, in: Akira Namatame & Taisei Kaizouji & Yuuji Aruka (ed.), The Complex Networks of Economic Interactions, pages 61-76, Springer.
    • Handle: RePEc:spr:lnechp:978-3-540-28727-8_4
    DOI: 10.1007/3-540-28727-2_4
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