Complex Systems Modeling And Simulation In Economics And Finance

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Complex Systems Modeling and Simulation in Economics and Finance

Shu-Heng Chen,Ying-Fang Kao,Ragupathy Venkatachalam,Ye-Rong Du
Complex Systems Modeling and Simulation in Economics and Finance Book PDF

Author : Shu-Heng Chen,Ying-Fang Kao,Ragupathy Venkatachalam,Ye-Rong Du
Publisher : Springer
Page : 307 pages
File Size : 41,6 Mb
Release : 2018-11-20
Category : Business & Economics
ISBN : 9783319996240

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Complex Systems Modeling and Simulation in Economics and Finance by Shu-Heng Chen,Ying-Fang Kao,Ragupathy Venkatachalam,Ye-Rong Du Pdf

This title brings together frontier research on complex economic systems, heterogeneous interacting agents, bounded rationality, and nonlinear dynamics in economics. The book contains the proceedings of the CEF2015 (21st Computing in Economics in Finance), held 20-22 June 2015 in Taipei, Taiwan, and addresses some of the important driving forces for various emergent properties in economies, when viewed as complex systems. The breakthroughs reported in this book are a result of an interdisciplinary approach and simulation remains the unifying theme for these papers as they deal with a wide range of topics in economics. The text is a valuable addition to the efforts in promoting the complex systems view in economic science. The computational experiments reported in the book are both transparent and replicable. Complex System Modeling and Simulation in Economics and Finance is useful for graduate courses of complex systems, with particular focus on economics and finance. At the same time it serves as a good overview for researchers who are interested in the topic.

Complex Systems in Finance and Econometrics

Robert A. Meyers
Complex Systems in Finance and Econometrics Book PDF

Author : Robert A. Meyers
Publisher : Springer Science & Business Media
Page : 919 pages
File Size : 45,7 Mb
Release : 2010-11-03
Category : Business & Economics
ISBN : 9781441977007

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Complex Systems in Finance and Econometrics by Robert A. Meyers Pdf

Finance, Econometrics and System Dynamics presents an overview of the concepts and tools for analyzing complex systems in a wide range of fields. The text integrates complexity with deterministic equations and concepts from real world examples, and appeals to a broad audience.

Complex Systems and Society

Nicola Bellomo,Giulia Ajmone Marsan,Andrea Tosin
Complex Systems and Society Book PDF

Author : Nicola Bellomo,Giulia Ajmone Marsan,Andrea Tosin
Publisher : Springer
Page : 0 pages
File Size : 53,5 Mb
Release : 2013-05-24
Category : Mathematics
ISBN : 1461472415

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Complex Systems and Society by Nicola Bellomo,Giulia Ajmone Marsan,Andrea Tosin Pdf

This work aims to foster the interdisciplinary dialogue between mathematicians and socio-economic scientists. Interaction among scholars and practitioners traditionally coming from different research areas is necessary more than ever in order to better understand many real-world problems we face today. On the one hand, mathematicians need economists and social scientists to better address the methodologies they design in a more realistic way; on the other hand, economists and social scientists need to be aware of sound mathematical modelling tools in order to understand and, ultimately, solve the complex problems they encounter in their research. With this goal in mind, this work is designed to take into account a multidisciplinary approach that will encourage the transfer of knowledge, ideas, and methodology from one discipline to the other. In particular, the work has three main themes: Demystifying and unravelling complex systems; Introducing models of individual behaviours in the social and economic sciences; Modelling socio-economic sciences as complex living systems. Specific tools examined in the work include a recently developed modelling approach using stochastic game theory within the framework of statistical mechanics and progressing up to modeling Darwinian evolution. Special attention is also devoted to social network theory as a fundamental instrument for the understanding of socio-economic systems.​

Agent-Based Simulation: From Modeling Methodologies to Real-World Applications

Takao Terano,Hajime Kita,Toshiyuki Kaneda,Kiyoshi Arai,Hiroshi Deguchi
Agent Based Simulation From Modeling Methodologies to Real World Applications Book PDF

Author : Takao Terano,Hajime Kita,Toshiyuki Kaneda,Kiyoshi Arai,Hiroshi Deguchi
Publisher : Springer Science & Business Media
Page : 259 pages
File Size : 44,6 Mb
Release : 2006-06-18
Category : Political Science
ISBN : 9784431269250

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Agent-Based Simulation: From Modeling Methodologies to Real-World Applications by Takao Terano,Hajime Kita,Toshiyuki Kaneda,Kiyoshi Arai,Hiroshi Deguchi Pdf

Agent-based modeling/simulation is an emerging field that uses bottom-up and experimental analysis in the social sciences. Selected research from that presented at the Third International Workshop on Agent-Based Approaches in Economic and Social Complex Systems 2004, held in May 2004 in Kyoto, Japan, is included in this book. The aim of the workshop was to employ the bottom-up approach to social and economic problems by modeling, simulation, and analysis using a software agent. This research area is an emerging interdisciplinary field among the social sciences and computer science, attracting broad attention because it introduces a simulation-based experimental approach to problems that are becoming increasingly complex in an era of globalization and innovation in information technology. The state-of-the-art research and findings presented in this book will be indispensable tools for anyone involved in this rapidly growing discipline.

Network Theory and Agent-Based Modeling in Economics and Finance

Anindya S. Chakrabarti,Lukáš Pichl,Taisei Kaizoji
Network Theory and Agent Based Modeling in Economics and Finance Book PDF

Author : Anindya S. Chakrabarti,Lukáš Pichl,Taisei Kaizoji
Publisher : Springer Nature
Page : 458 pages
File Size : 51,7 Mb
Release : 2019-10-23
Category : Business & Economics
ISBN : 9789811383199

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Network Theory and Agent-Based Modeling in Economics and Finance by Anindya S. Chakrabarti,Lukáš Pichl,Taisei Kaizoji Pdf

This book presents the latest findings on network theory and agent-based modeling of economic and financial phenomena. In this context, the economy is depicted as a complex system consisting of heterogeneous agents that interact through evolving networks; the aggregate behavior of the economy arises out of billions of small-scale interactions that take place via countless economic agents. The book focuses on analytical modeling, and on the econometric and statistical analysis of the properties emerging from microscopic interactions. In particular, it highlights the latest empirical and theoretical advances, helping readers understand economic and financial networks, as well as new work on modeling behavior using rich, agent-based frameworks. Innovatively, the book combines observational and theoretical insights in the form of networks and agent-based models, both of which have proved to be extremely valuable in understanding non-linear and evolving complex systems. Given its scope, the book will capture the interest of graduate students and researchers from various disciplines (e.g. economics, computer science, physics, and applied mathematics) whose work involves the domain of complexity theory.

Social Self-Organization

Dirk Helbing
Social Self Organization Book PDF

Author : Dirk Helbing
Publisher : Springer
Page : 341 pages
File Size : 52,8 Mb
Release : 2012-05-05
Category : Science
ISBN : 9783642240041

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Social Self-Organization by Dirk Helbing Pdf

What are the principles that keep our society together? This question is even more difficult to answer than the long-standing question, what are the forces that keep our world together. However, the social challenges of humanity in the 21st century ranging from the financial crises to the impacts of globalization, require us to make fast progress in our understanding of how society works, and how our future can be managed in a resilient and sustainable way. This book can present only a few very first steps towards this ambitious goal. However, based on simple models of social interactions, one can already gain some surprising insights into the social, ``macro-level'' outcomes and dynamics that is implied by individual, ``micro-level'' interactions. Depending on the nature of these interactions, they may imply the spontaneous formation of social conventions or the birth of social cooperation, but also their sudden breakdown. This can end in deadly crowd disasters or tragedies of the commons (such as financial crises or environmental destruction). Furthermore, we demonstrate that classical modeling approaches (such as representative agent models) do not provide a sufficient understanding of the self-organization in social systems resulting from individual interactions. The consideration of randomness, spatial or network interdependencies, and nonlinear feedback effects turns out to be crucial to get fundamental insights into how social patterns and dynamics emerge. Given the explanation of sometimes counter-intuitive phenomena resulting from these features and their combination, our evolutionary modeling approach appears to be powerful and insightful. The chapters of this book range from a discussion of the modeling strategy for socio-economic systems over experimental issues up the right way of doing agent-based modeling. We furthermore discuss applications ranging from pedestrian and crowd dynamics over opinion formation, coordination, and cooperation up to conflict, and also address the response to information, issues of systemic risks in society and economics, and new approaches to manage complexity in socio-economic systems. Selected parts of this book had been previously published in peer reviewed journals.

Agent-Based Methods in Economics and Finance

Francesco Luna,Alessandro Perrone
Agent Based Methods in Economics and Finance Book PDF

Author : Francesco Luna,Alessandro Perrone
Publisher : Springer Science & Business Media
Page : 306 pages
File Size : 50,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461507857

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Agent-Based Methods in Economics and Finance by Francesco Luna,Alessandro Perrone Pdf

This second book on financial and economic simulations in Swarm marks the continued progress by a group of researchers to incorporate agent-based computer models as an important tool within their disci pline. It is encouraging to see such a clear example of Swarm helping to foster a community of users who rely on the Swarm framework for their own analyses. Swarm aims at legitimizing agent-based computer models as a tool for the study of complex systems. A further goal is that a common base framework will lead to the growth of user communities in specific areas of application. By providing an organizing framework to guide the development of more problem-specific structures, and by dealing with a whole range of issues that affect their fundamental correctness and their ability to be developed and reused, Swarm has sought to make the use of agent-based models a legitimate tool of scientific investigation that also meets the practical needs of investigators within a community.

Agent-Based Approaches in Economic and Social Complex Systems VI

Shu-Heng Chen,Takao Terano,Ryuichi Yamamoto
Agent Based Approaches in Economic and Social Complex Systems VI Book PDF

Author : Shu-Heng Chen,Takao Terano,Ryuichi Yamamoto
Publisher : Springer
Page : 0 pages
File Size : 43,9 Mb
Release : 2014-10-12
Category : Social Science
ISBN : 4431546510

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Agent-Based Approaches in Economic and Social Complex Systems VI by Shu-Heng Chen,Takao Terano,Ryuichi Yamamoto Pdf

Agent-based modeling/simulation is an emergent approach to the analysis of social and economic systems. It provides a bottom-up experimental method to be applied to social sciences such as economics, management, sociology, and politics as well as some engineering fields dealing with social activities. This book includes selected papers presented at the Sixth International Workshop on Agent-Based Approaches in Economic and Social Complex Systems held in Taipei in 2009. We have 39 presentations in the conference, and 14 papers are selected to be included in this volume. These 14 papers are then grouped into six parts: Agent-based financial markets; Financial forecasting and investment; Cognitive modeling of agents; Complexity and policy analysis; Agent-based modeling of good societies; and Miscellany. The research presented here shows the state of the art in this rapidly growing field.

Large-Scale Computing Techniques for Complex System Simulations

Werner Dubitzky,Krzysztof Kurowski,Bernard Schott
Large Scale Computing Techniques for Complex System Simulations Book PDF

Author : Werner Dubitzky,Krzysztof Kurowski,Bernard Schott
Publisher : John Wiley & Sons
Page : 220 pages
File Size : 50,8 Mb
Release : 2012-02-03
Category : Science
ISBN : 9781118130490

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Large-Scale Computing Techniques for Complex System Simulations by Werner Dubitzky,Krzysztof Kurowski,Bernard Schott Pdf

Complex systems modeling and simulation approaches are being adopted in a growing number of sectors, including finance, economics, biology, astronomy, and many more. Technologies ranging from distributed computing to specialized hardware are explored and developed to address the computational requirements arising in complex systems simulations. The aim of this book is to present a representative overview of contemporary large-scale computing technologies in the context of complex systems simulations applications. The intention is to identify new research directions in this field and to provide a communications platform facilitating an exchange of concepts, ideas and needs between the scientists and technologist and complex system modelers. On the application side, the book focuses on modeling and simulation of natural and man-made complex systems. On the computing technology side, emphasis is placed on the distributed computing approaches, but supercomputing and other novel technologies are also considered.

System Dynamics

Bilash Kanti Bala,Fatimah Mohamed Arshad,Kusairi Mohd Noh
System Dynamics Book PDF

Author : Bilash Kanti Bala,Fatimah Mohamed Arshad,Kusairi Mohd Noh
Publisher : Springer
Page : 278 pages
File Size : 55,7 Mb
Release : 2016-10-28
Category : Business & Economics
ISBN : 9789811020452

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System Dynamics by Bilash Kanti Bala,Fatimah Mohamed Arshad,Kusairi Mohd Noh Pdf

This book covers the broad spectrum of system dynamics methodologies for the modelling and simulation of complex systems: systems thinking, causal diagrams, systems structure of stock and flow diagrams, parameter estimation and tests for confidence building in system dynamics models. It includes a comprehensive review of model validation and policy design and provides a practical presentation of system dynamics modelling. It also offers numerous worked-out examples and case studies in diverse fields using STELLA and VENSIM. The system dynamics methodologies presented here can be applied to nearly all areas of research and planning, and the simulations provided make the complicated issues more easily understandable. System Dynamics: Modelling and Simulation is an essential system dynamics and systems engineering textbook for undergraduate and graduate courses. It also offers an excellent reference guide for managers in industry and policy planners who wish to use modelling and simulation to manage complex systems more effectively, as well as researchers in the fields of modelling and simulation-based systems thinking.

Computational Models of Complex Systems

Vijay Kumar Mago,Vahid Dabbaghian
Computational Models of Complex Systems Book PDF

Author : Vijay Kumar Mago,Vahid Dabbaghian
Publisher : Springer Science & Business Media
Page : 196 pages
File Size : 47,6 Mb
Release : 2013-10-31
Category : Technology & Engineering
ISBN : 9783319012858

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Computational Models of Complex Systems by Vijay Kumar Mago,Vahid Dabbaghian Pdf

Computational and mathematical models provide us with the opportunities to investigate the complexities of real world problems. They allow us to apply our best analytical methods to define problems in a clearly mathematical manner and exhaustively test our solutions before committing expensive resources. This is made possible by assuming parameter(s) in a bounded environment, allowing for controllable experimentation, not always possible in live scenarios. For example, simulation of computational models allows the testing of theories in a manner that is both fundamentally deductive and experimental in nature. The main ingredients for such research ideas come from multiple disciplines and the importance of interdisciplinary research is well recognized by the scientific community. This book provides a window to the novel endeavours of the research communities to present their works by highlighting the value of computational modelling as a research tool when investigating complex systems. We hope that the readers will have stimulating experiences to pursue research in these directions.

Modeling and Visualization of Complex Systems and Enterprises

William B. Rouse
Modeling and Visualization of Complex Systems and Enterprises Book PDF

Author : William B. Rouse
Publisher : John Wiley & Sons
Page : 293 pages
File Size : 53,5 Mb
Release : 2015-07-27
Category : Technology & Engineering
ISBN : 9781118954133

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Modeling and Visualization of Complex Systems and Enterprises by William B. Rouse Pdf

Explains multi-level models of enterprise systems and covers modeling methodology This book addresses the essential phenomena underlying the overall behaviors of complex systems and enterprises. Understanding these phenomena can enable improving these systems. These phenomena range from physical, behavioral, and organizational, to economic and social, all of which involve significant human components. Specific phenomena of interest and how they are represented depend on the questions of interest and the relevant domains or contexts. Modeling and Visualization of Complex Systems and Enterprises examines visualization of phenomena and how understanding the relationships among phenomena can provide the basis for understanding where deeper exploration is warranted. The author also reviews mathematical and computational models, defined very broadly across disciplines, which can enable deeper understanding. Presents a 10 step methodology for addressing questions associated with the design or operation of complex systems and enterprises Examines six archetypal enterprise problems including two from healthcare, two from urban systems, and one each from financial systems and defense systems Provides an introduction to the nature of complex systems, historical perspectives on complexity and complex adaptive systems, and the evolution of systems practice Modeling and Visualization of Complex Systems and Enterprises is written for graduate students studying systems science and engineering and professionals involved in systems science and engineering, those involved in complex systems such as healthcare delivery, urban systems, sustainable energy, financial systems, and national security.

Network Theory and Agent-based Modeling in Economics and Finance

Anindya S. Chakrabarti,Lukáš Pichl,Taisei Kaizoji
Network Theory and Agent based Modeling in Economics and Finance Book PDF

Author : Anindya S. Chakrabarti,Lukáš Pichl,Taisei Kaizoji
Publisher : Unknown
Page : 458 pages
File Size : 49,5 Mb
Release : 2019
Category : Economics
ISBN : 9811383200

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Network Theory and Agent-based Modeling in Economics and Finance by Anindya S. Chakrabarti,Lukáš Pichl,Taisei Kaizoji Pdf

This book presents the latest findings on network theory and agent-based modeling of economic and financial phenomena. In this context, the economy is depicted as a complex system consisting of heterogeneous agents that interact through evolving networks; the aggregate behavior of the economy arises out of billions of small-scale interactions that take place via countless economic agents. The book focuses on analytical modeling, and on the econometric and statistical analysis of the properties emerging from microscopic interactions. In particular, it highlights the latest empirical and theoretical advances, helping readers understand economic and financial networks, as well as new work on modeling behavior using rich, agent-based frameworks. Innovatively, the book combines observational and theoretical insights in the form of networks and agent-based models, both of which have proved to be extremely valuable in understanding non-linear and evolving complex systems. Given its scope, the book will capture the interest of graduate students and researchers from various disciplines (e.g. economics, computer science, physics, and applied mathematics) whose work involves the domain of complexity theory.

Simulation in Computational Finance and Economics: Tools and Emerging Applications

Alexandrova-Kabadjova, Biliana
Simulation in Computational Finance and Economics Tools and Emerging Applications Book PDF

Author : Alexandrova-Kabadjova, Biliana
Publisher : IGI Global
Page : 378 pages
File Size : 41,7 Mb
Release : 2012-08-31
Category : Business & Economics
ISBN : 9781466620124

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Simulation in Computational Finance and Economics: Tools and Emerging Applications by Alexandrova-Kabadjova, Biliana Pdf

Simulation has become a tool difficult to substitute in many scientific areas like manufacturing, medicine, telecommunications, games, etc. Finance is one of such areas where simulation is a commonly used tool; for example, we can find Monte Carlo simulation in many financial applications like market risk analysis, portfolio optimization, credit risk related applications, etc. Simulation in Computational Finance and Economics: Tools and Emerging Applications presents a thorough collection of works, covering several rich and highly productive areas of research including Risk Management, Agent-Based Simulation, and Payment Methods and Systems, topics that have found new motivations after the strong recession experienced in the last few years. Despite the fact that simulation is widely accepted as a prominent tool, dealing with a simulation-based project requires specific management abilities of the researchers. Economic researchers will find an excellent reference to introduce them to the computational simulation models. The works presented in this book can be used as an inspiration for economic researchers interested in creating their own computational models in their respective fields.

Large Group Decision Making

Iván Palomares Carrascosa
Large Group Decision Making Book PDF

Author : Iván Palomares Carrascosa
Publisher : Springer
Page : 118 pages
File Size : 41,6 Mb
Release : 2018-10-31
Category : Computers
ISBN : 9783030010270

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Large Group Decision Making by Iván Palomares Carrascosa Pdf

This SpringerBrief provides a pioneering, central point of reference for the interested reader in Large Group Decision Making trends such as consensus support, fusion and weighting of relevant decision information, subgroup clustering, behavior management, and implementation of decision support systems, among others. Based on the challenges and difficulties found in classical approaches to handle large decision groups, the principles, families of techniques, and newly related disciplines to Large-Group Decision Making (such as Data Science, Artificial Intelligence, Social Network Analysis, Opinion Dynamics, Behavioral and Cognitive Sciences), are discussed. Real-world applications and future directions of research on this novel topic are likewise highlighted.