Bøger i Routledge Advances in Experimental and Computable Economics serien

Develops a framework for the analysis of scientific experimentation and applies it to the experimental field of economics. This book articulates the products of experimentation and analyses scientific experimentation incorporating both the 'material' and the 'social' dimensions of knowledge production.

Written by the author who is an expert on computable economics, this book includes essays and a chapter on computability and complexity.

A monograph that examines the domain of classical political economy using the methodologies developed in by the discipline of econo-physics and by computing science. It examines basic feature of economic life - production - and asks what it is about physical laws that allows production to take place.

The economics of search is a prominent component of economic theory, and it has a richness and elegance that underpins a host of practical applications. This book presents a comprehensive overview of the economic theory of search, from the classical model of job search formulated to the developments in equilibrium models of search.

This user-friendly textbook gives an introduction to the world of experimental economics. The book begins with an exploration of the history of experimental economics before moving on to describing how to set up an economics emperiment and surveying selected applications and methods.

Most of us would accept that recent large economic fluctuations have been caused by crashes of speculative bubbles in asset markets but the reasons why bubbles frequently occur and why they collapse are not always well understood. The book provides a new theoretical explanation of bubbles and crashes to help deepen our understanding of the mechanism of bubbles and subsequent crashes.

Computational intelligence, a sub-branch of artificial intelligence, is a field which draws on the natural world and adaptive mechanisms in order to study behaviour in changing complex environments. This book provides an interdisciplinary view of current technological advances and challenges concerning the application of computational intelligence techniques to financial time-series forecasting, trading and investment.

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.