Titlebook: Interaction and Market Structure; Essays on Heterogene Domenico Delli Gatti,Mauro Gallegati,Alan Kirman Conference proceedings 2000 Springe

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Evolutionary Selection of Correlation Mechanisms for Coordination Games,dynamics generically select . specific mechanism among the alternative ones, thus bringing about a social standard of choice, i.e. a conventional way of correlating players‘ actions in anonymous interactions. This result then provides a strong evolutionary rationale for correlated equilibrium as a solution concept for coordination games.

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On New Phenomena in Dynamic Promotional Competition Models with Homogeneous and Quasi-homogeneous Fption exhibits, in many situations, non-generic dynamical behavior. New phenomena, like Milnor attractors and synchronization of trajectories, arising in the homogeneous case are illustrated. The introduction of small heterogeneities into the model invalidates many of the conclusions derived under the hypothesis of homogeneous firms.

Ancestor

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Heterogeneous Agents, Complementarities, and Diffusion,s. Together, the model accounts also for the rare empirical occurence of stable market sharing in each single market on the grounds of the (slower) rates of convergence that such a limit configuration entails.

Synchronism

Learning to Trade and Mediate,ferent production technologies we show by the means of simulations that both direct trade and trade via mediators who specialize in trading can emerge. We can also observe the transition from a pure production economy via direct trade to an economy with mediated trade.

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The Propagation of Cooperation in a Spatial Model of Learning with Endogenous Aspirations,e profits, they do not change their strategies; if they are earning below-average profits they imitate the strategy adopted by one of their neighbours. We consider many variations to this general setting and, in most of the cases, we get results that support cooperation among firms.

Insulin

Expectation Formation in a Cobweb Economy: Some One Person Experiments,lest dynamic economic model, the cobweb model, without any knowledge of the underlying market equilibrium equations. We found that only about 35% of the subjects seemed to be able to learn the unique . equilibrium. We also found that many individuals deviate from . for long periods of time, sometimes with ‘systematic forecasting errors’.

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