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

by Masahiko Aoki

Book Overview

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,...

• Format: Paperback
• Language: English
• ISBN: 0521637694
• ISBN13: 9780521637695
• Release Date: February 1998
• Publisher: Cambridge University Press
• Length: 308 Pages
• Weight: 0.93 lbs.
• Dimensions: 0.7" x 6.0" x 9.0"