Name: New Approaches to Macroeconomic Modeling Paperback: Evolutionary Stochastic Dynamics, Multiple Equilibria, and Externalities as Field Effects
SKU: 19219756
Price: 82.93 EUR
Availability: InStock
Author: Masanao Aoki

portada New Approaches to Macroeconomic Modeling Paperback: Evolutionary Stochastic Dynamics, Multiple Equilibria, and Externalities as Field Effects

New Approaches to Macroeconomic Modeling Paperback: Evolutionary Stochastic Dynamics, Multiple Equilibria, and Externalities as Field Effects

Type

Physical Book

Publisher

Cambridge University Press

Author

Masanao Aoki

Year

1998

Language

English

Pages

308

Format

Paperback

ISBN

0521637694

ISBN13

9780521637695

Synopsis "New Approaches to Macroeconomic Modeling Paperback: Evolutionary Stochastic Dynamics, Multiple Equilibria, and Externalities as Field Effects "

This book contributes substantively to the current state of the art of macroeconomic modeling by providing a method for modeling large collections of heterogeneous agents subject to nonpairwise externality called field effects, i.e. feedback of aggregate effects on individual agents or agents using state-dependent strategies. Adopting a level of microeconomic description that keeps track of compositions of fractions of agents by "types" or "strategies", time evolution of the microeconomic states is described by (backward) Chapman-Kolmogorov equations.

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New Approaches to Macroeconomic Modeling Paperback: Evolutionary Stochastic Dynamics, Multiple Equilibria, and Externalities as Field Effects - Masanao Aoki

Synopsis "New Approaches to Macroeconomic Modeling Paperback: Evolutionary Stochastic Dynamics, Multiple Equilibria, and Externalities as Field Effects "

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