A Computational Model Of Industry Dynamics

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A Computational Model of Industry Dynamics

Author : Myong-Hun Chang
Publisher : Routledge
ISBN 13 : 1134582773
Total Pages : 159 pages
Book Rating : 4.1/5 (345 download)

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Book Synopsis A Computational Model of Industry Dynamics by : Myong-Hun Chang

Download or read book A Computational Model of Industry Dynamics written by Myong-Hun Chang and published by Routledge. This book was released on 2015-01-09 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economics literature on industry dynamics contains a wide array of empirical works identifying a set of stylized facts. There have been several attempts at constructing analytical models to explain some of these regularities. These attempts are highly stylized and limited in scope to keep the analyses tractable. A general model of industry evolution capable of generating firm and industry behaviour that can match the data is needed. This book endeavours to explain many well-documented aspects of the evolution of industries over time. It uses an agent-based computational model in which artificial industries are created and grown to maturity in silico. While the firms in the model are assumed to have bounded rationality, they are nevertheless adaptive in the sense that their experience-based R&D efforts allow them to search for improved technologies. Given a technological environment subject to persistent and unexpected external shocks, the computationally generated industry remains in a perennial state of flux. The main objective of this study is to identify patterns that exist in the movements of firms as the industry evolves over time along the steady state in which the measured behaviour of the firms and the industry stochastically fluctuate around steady means. The computational model developed in this book is able to replicate many of the stylized facts from the empirical industrial organization literature, particularly as the facts pertain to the dynamics of firm entry and exit. Furthermore, the model allows examination of cross-industry variations in entry and exit patterns by systematically varying the characteristics of the market and the technological environment within which the computationally generated industry evolves. The model demonstrates that the computational approach based on boundedly rational agents in a dynamic setting can be useful and effective in carrying out both positive and normative economic analysis.

Industry Dynamics with Knowledge-Based Competition

Author : Myong-Hun Chang
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Industry Dynamics with Knowledge-Based Competition by : Myong-Hun Chang

Download or read book Industry Dynamics with Knowledge-Based Competition written by Myong-Hun Chang and published by . This book was released on 2014 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: I propose a computational model of industry evolution capable of matching many stylized facts. It views the firm as a myopic but adaptive entity whose survival depends on its ability to perform various activities with greater efficiency than its rivals. In this model, the shakeout pattern arises naturally in the early stage of industrial development. I provide a full comparative dynamics analysis of how various industry-specific factors determine the numbers and the rates of entries and exits over time as well as the ages of the exiting firms.

Dynamic General Equilibrium Modelling

Author : Burkhard Heer
Publisher : Springer Science & Business Media
ISBN 13 : 3540273123
Total Pages : 548 pages
Book Rating : 4.5/5 (42 download)

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Book Synopsis Dynamic General Equilibrium Modelling by : Burkhard Heer

Download or read book Dynamic General Equilibrium Modelling written by Burkhard Heer and published by Springer Science & Business Media. This book was released on 2005-12-05 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern business cycle theory and growth theory uses stochastic dynamic general equilibrium models. Many mathematical tools are needed to solve these models. The book presents various methods for computing the dynamics of general equilibrium models. In part I, the representative-agent stochastic growth model is solved with the help of value function iteration, linear and linear quadratic approximation methods, parameterised expectations and projection methods. In order to apply these methods, fundamentals from numerical analysis are reviewed in detail. Part II discusses methods for solving heterogeneous-agent economies. In such economies, the distribution of the individual state variables is endogenous. This part of the book also serves as an introduction to the modern theory of distribution economics. Applications include the dynamics of the income distribution over the business cycle or the overlapping-generations model. Through an accompanying home page to this book, computer codes to all applications can be downloaded.

Industry and Labor Dynamics

Author : Roberto Leombruni
Publisher : World Scientific
ISBN 13 : 9812702253
Total Pages : 431 pages
Book Rating : 4.8/5 (127 download)

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Book Synopsis Industry and Labor Dynamics by : Roberto Leombruni

Download or read book Industry and Labor Dynamics written by Roberto Leombruni and published by World Scientific. This book was released on 2004 with total page 431 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the contributions to the first Wild@Ace conference. The acronym stands for OC Workshop on Industrial and Labor Dynamics OCo The Agent-Based Computational AproachOCO, and it has been the first event ever focusing on the very promising use of the agent-based simulation approach for investigation of labor economics and industrial organization issues. Agent-based models are computer models in which a multitude of agents OCo each embodied in a specific software code OCo interact. These agents can represent individuals households, firms, institutions, etc. Moreover, OC specialOCO agents can be added to observe and monitor individual and collective behavior. One of the main purpose of writing an ACE model is to gain intuitions on the two-way feedback between the microstructure and the macrostructure of a phenomenon of interest. How is it that simple aggregate regularities may arise from individual disorder? Or that a nice structure at an individual level may lead to a complete absence of regularity in the aggregate? How is it that the complex interaction of very simple individuals may lead to surprisingly complicated aggregate dynamics? Or that sophisticated agents may be unable to organize themselves in any interesting way?. The book includes contributions by some of the most distinguished researchers in the field, such as the economists Alan Kirman, Giovanni Dosi, Leigh Tesfatsion and Mauro Gallegati, and the sociologist Nigel Gilbert."

The Oxford Handbook of Computational Economics and Finance

Author : Shu-Heng Chen
Publisher : Oxford University Press
ISBN 13 : 0190877502
Total Pages : 784 pages
Book Rating : 4.1/5 (98 download)

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Book Synopsis The Oxford Handbook of Computational Economics and Finance by : Shu-Heng Chen

Download or read book The Oxford Handbook of Computational Economics and Finance written by Shu-Heng Chen and published by Oxford University Press. This book was released on 2018-01-12 with total page 784 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of Computational Economics and Finance provides a survey of both the foundations of and recent advances in the frontiers of analysis and action. It is both historically and interdisciplinarily rich and also tightly connected to the rise of digital society. It begins with the conventional view of computational economics, including recent algorithmic development in computing rational expectations, volatility, and general equilibrium. It then moves from traditional computing in economics and finance to recent developments in natural computing, including applications of nature-inspired intelligence, genetic programming, swarm intelligence, and fuzzy logic. Also examined are recent developments of network and agent-based computing in economics. How these approaches are applied is examined in chapters on such subjects as trading robots and automated markets. The last part deals with the epistemology of simulation in its trinity form with the integration of simulation, computation, and dynamics. Distinctive is the focus on natural computationalism and the examination of the implications of intelligent machines for the future of computational economics and finance. Not merely individual robots, but whole integrated systems are extending their "immigration" to the world of Homo sapiens, or symbiogenesis.

Pathways Between Social Science and Computational Social Science

Author : Tamás Rudas
Publisher : Springer Nature
ISBN 13 : 3030549364
Total Pages : 284 pages
Book Rating : 4.0/5 (35 download)

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Book Synopsis Pathways Between Social Science and Computational Social Science by : Tamás Rudas

Download or read book Pathways Between Social Science and Computational Social Science written by Tamás Rudas and published by Springer Nature. This book was released on 2021-01-22 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume shows that the emergence of computational social science (CSS) is an endogenous response to problems from within the social sciences and not exogeneous. The three parts of the volume address various pathways along which CSS has been developing from and interacting with existing research frameworks. The first part exemplifies how new theoretical models and approaches on which CSS research is based arise from theories of social science. The second part is about methodological advances facilitated by CSS-related techniques. The third part illustrates the contribution of CSS to traditional social science topics, further attesting to the embedded nature of CSS. The expected readership of the volume includes researchers with a traditional social science background who wish to approach CSS, experts in CSS looking for substantive links to more traditional social science theories, methods and topics, and finally, students working in both fields.

Fluid Dynamics, Computational Modeling and Applications

Author : L. Hector Juarez
Publisher : BoD – Books on Demand
ISBN 13 : 9535100521
Total Pages : 664 pages
Book Rating : 4.5/5 (351 download)

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Book Synopsis Fluid Dynamics, Computational Modeling and Applications by : L. Hector Juarez

Download or read book Fluid Dynamics, Computational Modeling and Applications written by L. Hector Juarez and published by BoD – Books on Demand. This book was released on 2012-02-24 with total page 664 pages. Available in PDF, EPUB and Kindle. Book excerpt: The content of this book covers several up-to-date topics in fluid dynamics, computational modeling and its applications, and it is intended to serve as a general reference for scientists, engineers, and graduate students. The book is comprised of 30 chapters divided into 5 parts, which include: winds, building and risk prevention; multiphase flow, structures and gases; heat transfer, combustion and energy; medical and biomechanical applications; and other important themes. This book also provides a comprehensive overview of computational fluid dynamics and applications, without excluding experimental and theoretical aspects.

Heterogeneous Agent Modeling

Author : Cars Hommes
Publisher : Elsevier
ISBN 13 : 0444641327
Total Pages : 834 pages
Book Rating : 4.4/5 (446 download)

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Book Synopsis Heterogeneous Agent Modeling by : Cars Hommes

Download or read book Heterogeneous Agent Modeling written by Cars Hommes and published by Elsevier. This book was released on 2018-06-27 with total page 834 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Computational Economics: Heterogeneous Agent Modeling, Volume Four, focuses on heterogeneous agent models, emphasizing recent advances in macroeconomics (including DSGE), finance, empirical validation and experiments, networks and related applications. Capturing the advances made since the publication of Volume Two (Tesfatsion & Judd, 2006), it provides high-level literature with sections devoted to Macroeconomics, Finance, Empirical Validation and Experiments, Networks, and other applications, including Innovation Diffusion in Heterogeneous Populations, Market Design and Electricity Markets, and a final section on Perspectives on Heterogeneity. Helps readers fully understand the dynamic properties of realistically rendered economic systems Emphasizes detailed specifications of structural conditions, institutional arrangements and behavioral dispositions Provides broad assessments that can lead researchers to recognize new synergies and opportunities

Agent-Based Computational Economics

Author : Shu-Heng Chen
Publisher : Routledge
ISBN 13 : 1317560922
Total Pages : 543 pages
Book Rating : 4.3/5 (175 download)

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Book Synopsis Agent-Based Computational Economics by : Shu-Heng Chen

Download or read book Agent-Based Computational Economics written by Shu-Heng Chen and published by Routledge. This book was released on 2017-09-19 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to answer two questions that are fundamental to the study of agent-based economic models: what is agent-based computational economics and why do we need agent-based economic modelling of economy? This book provides a review of the development of agent-based computational economics (ACE) from a perspective on how artificial economic agents are designed under the influences of complex sciences, experimental economics, artificial intelligence, evolutionary biology, psychology, anthropology and neuroscience. This book begins with a historical review of ACE by tracing its origins. From a modelling viewpoint, ACE brings truly decentralized procedures into market analysis, from a single market to the whole economy. This book also reviews how experimental economics and artificial intelligence have shaped the development of ACE. For the former, the book discusses how ACE models can be used to analyse the economic consequences of cognitive capacity, personality and cultural inheritance. For the latter, the book covers the various tools used to construct artificial adaptive agents, including reinforcement learning, fuzzy decision rules, neural networks, and evolutionary computation. This book will be of interest to graduate students researching computational economics, experimental economics, behavioural economics, and research methodology.

Computable, Constructive & Behavioural Economic Dynamics

Author : Stefano Zambelli
Publisher : Routledge
ISBN 13 : 1135272522
Total Pages : 812 pages
Book Rating : 4.1/5 (352 download)

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Book Synopsis Computable, Constructive & Behavioural Economic Dynamics by : Stefano Zambelli

Download or read book Computable, Constructive & Behavioural Economic Dynamics written by Stefano Zambelli and published by Routledge. This book was released on 2010-02-25 with total page 812 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book contains thirty original articles dealing with important aspects of theoretical as well as applied economic theory. While the principal focus is on: the computational and algorithmic nature of economic dynamics; individual as well as collective decision process and rational behavior, some contributions emphasize also the importance of classical recursion theory and constructive mathematics for dynamical systems, business cycles theories, growth theories, and others are in the area of history of thought, methodology and behavioural economics. The contributors range from Nobel Laureates to the promising new generation of innovative thinkers. This volume is also a Festschrift in honour of Professor Kumaraswamy Vela Velupillai, the founder of Computable Economics, a growing field of research where important results stemming from classical recursion theory and constructive mathematics are applied to economic theory. The aim and hope is to provide new tools for economic modelling. This book will be of particular appeal to postgraduate students and scholars in one or more of the following fields: computable economics, business cycles, macroeconomics, growth theories, methodology, behavioural economics, financial economics, experimental and agent based economics. It might be also of importance to those interested on the general theme of algorithmic foundations for social sciences.

Dynamic General Equilibrium Modeling

Author : Burkhard Heer
Publisher : Springer
ISBN 13 : 9783540857198
Total Pages : 702 pages
Book Rating : 4.8/5 (571 download)

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Book Synopsis Dynamic General Equilibrium Modeling by : Burkhard Heer

Download or read book Dynamic General Equilibrium Modeling written by Burkhard Heer and published by Springer. This book was released on 2009-08-29 with total page 702 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern business cycle theory and growth theory uses stochastic dynamic general equilibrium models. In order to solve these models, economists need to use many mathematical tools. This book presents various methods in order to compute the dynamics of general equilibrium models. In part I, the representative-agent stochastic growth model is solved with the help of value function iteration, linear and linear quadratic approximation methods, parameterised expectations and projection methods. In order to apply these methods, fundamentals from numerical analysis are reviewed in detail. In particular, the book discusses issues that are often neglected in existing work on computational methods, e.g. how to find a good initial value. In part II, the authors discuss methods in order to solve heterogeneous-agent economies. In such economies, the distribution of the individual state variables is endogenous. This part of the book also serves as an introduction to the modern theory of distribution economics. Applications include the dynamics of the income distribution over the business cycle or the overlapping-generations model. In an accompanying home page to this book, computer codes to all applications can be downloaded.

Chemical Engineering in the Pharmaceutical Industry, Active Pharmaceutical Ingredients

Author : David J. am Ende
Publisher : John Wiley & Sons
ISBN 13 : 1119285887
Total Pages : 1168 pages
Book Rating : 4.1/5 (192 download)

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Book Synopsis Chemical Engineering in the Pharmaceutical Industry, Active Pharmaceutical Ingredients by : David J. am Ende

Download or read book Chemical Engineering in the Pharmaceutical Industry, Active Pharmaceutical Ingredients written by David J. am Ende and published by John Wiley & Sons. This book was released on 2019-03-28 with total page 1168 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to the development and manufacturing of pharmaceutical products written for professionals in the industry, revised second edition The revised and updated second edition of Chemical Engineering in the Pharmaceutical Industry is a practical book that highlights chemistry and chemical engineering. The book’s regulatory quality strategies target the development and manufacturing of pharmaceutically active ingredients of pharmaceutical products. The expanded second edition contains revised content with many new case studies and additional example calculations that are of interest to chemical engineers. The 2nd Edition is divided into two separate books: 1) Active Pharmaceutical Ingredients (API’s) and 2) Drug Product Design, Development and Modeling. The active pharmaceutical ingredients book puts the focus on the chemistry, chemical engineering, and unit operations specific to development and manufacturing of the active ingredients of the pharmaceutical product. The drug substance operations section includes information on chemical reactions, mixing, distillations, extractions, crystallizations, filtration, drying, and wet and dry milling. In addition, the book includes many applications of process modeling and modern software tools that are geared toward batch-scale and continuous drug substance pharmaceutical operations. This updated second edition: • Contains 30new chapters or revised chapters specific to API, covering topics including: manufacturing quality by design, computational approaches, continuous manufacturing, crystallization and final form, process safety • Expanded topics of scale-up, continuous processing, applications of thermodynamics and thermodynamic modeling, filtration and drying • Presents updated and expanded example calculations • Includes contributions from noted experts in the field Written for pharmaceutical engineers, chemical engineers, undergraduate and graduate students, and professionals in the field of pharmaceutical sciences and manufacturing, the second edition of Chemical Engineering in the Pharmaceutical Industry focuses on the development and chemical engineering as well as operations specific to the design, formulation, and manufacture of drug substance and products.

Computational Models for Polydisperse Particulate and Multiphase Systems

Author : Daniele L. Marchisio
Publisher : Cambridge University Press
ISBN 13 : 1107328179
Total Pages : 547 pages
Book Rating : 4.1/5 (73 download)

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Book Synopsis Computational Models for Polydisperse Particulate and Multiphase Systems by : Daniele L. Marchisio

Download or read book Computational Models for Polydisperse Particulate and Multiphase Systems written by Daniele L. Marchisio and published by Cambridge University Press. This book was released on 2013-03-28 with total page 547 pages. Available in PDF, EPUB and Kindle. Book excerpt: Providing a clear description of the theory of polydisperse multiphase flows, with emphasis on the mesoscale modelling approach and its relationship with microscale and macroscale models, this all-inclusive introduction is ideal whether you are working in industry or academia. Theory is linked to practice through discussions of key real-world cases (particle/droplet/bubble coalescence, break-up, nucleation, advection and diffusion and physical- and phase-space), providing valuable experience in simulating systems that can be applied to your own applications. Practical cases of QMOM, DQMOM, CQMOM, EQMOM and ECQMOM are also discussed and compared, as are realizable finite-volume methods. This provides the tools you need to use quadrature-based moment methods, choose from the many available options, and design high-order numerical methods that guarantee realizable moment sets. In addition to the numerous practical examples, MATLAB® scripts for several algorithms are also provided, so you can apply the methods described to practical problems straight away.

Innovation and the Evolution of Industries

Author : Franco Malerba
Publisher : Cambridge University Press
ISBN 13 : 1107051703
Total Pages : 293 pages
Book Rating : 4.1/5 (7 download)

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Book Synopsis Innovation and the Evolution of Industries by : Franco Malerba

Download or read book Innovation and the Evolution of Industries written by Franco Malerba and published by Cambridge University Press. This book was released on 2016-08-11 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new approach to the analysis of technological process, emphasising the tailoring of formal modelling to historical context.

Computational Analysis of Firms’ Organization and Strategic Behaviour

Author : Edoardo Mollona
Publisher : Routledge
ISBN 13 : 1136959955
Total Pages : 349 pages
Book Rating : 4.1/5 (369 download)

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Book Synopsis Computational Analysis of Firms’ Organization and Strategic Behaviour by : Edoardo Mollona

Download or read book Computational Analysis of Firms’ Organization and Strategic Behaviour written by Edoardo Mollona and published by Routledge. This book was released on 2010-09-13 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: Management and organization theories have, in the years, developed rich methodological paraphernalia to test hypotheses. This book addresses possible applications of computer simulation to theory building in management and organizational theory.

Handbook of Computational Economics

Author : Leigh Tesfatsion
Publisher : Elsevier
ISBN 13 : 0080459870
Total Pages : 905 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis Handbook of Computational Economics by : Leigh Tesfatsion

Download or read book Handbook of Computational Economics written by Leigh Tesfatsion and published by Elsevier. This book was released on 2006-05-15 with total page 905 pages. Available in PDF, EPUB and Kindle. Book excerpt: The explosive growth in computational power over the past several decades offers new tools and opportunities for economists. This handbook volume surveys recent research on Agent-based Computational Economics (ACE), the computational study of economic processes modeled as dynamic systems of interacting agents. Empirical referents for "agents" in ACE models can range from individuals or social groups with learning capabilities to physical world features with no cognitive function. Topics covered include: learning; empirical validation; network economics; social dynamics; financial markets; innovation and technological change; organizations; market design; automated markets and trading agents; political economy; social-ecological systems; computational laboratory development; and general methodological issues. *Every volume contains contributions from leading researchers *Each Handbook presents an accurate, self-contained survey of a particular topic *The series provides comprehensive and accessible surveys

Computational Fluid Dynamics

Author : Xiaofeng Liu
Publisher :
ISBN 13 : 9780784415313
Total Pages : 186 pages
Book Rating : 4.4/5 (153 download)

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Book Synopsis Computational Fluid Dynamics by : Xiaofeng Liu

Download or read book Computational Fluid Dynamics written by Xiaofeng Liu and published by . This book was released on 2019-05-16 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an introduction, overview, and specific examples of computational fluid dynamics and their applications in the water, wastewater, and stormwater industry.