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    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/129720

    Title: Heterogeneity, Price Discovery and Inequality in an Agent-Based Scarf Economy
    Authors: 陳樹衡
    Chen, Shu-Heng
    Venkatachalam, Ragupathy
    Chie, Bin-Tzong
    Kao, Ying-Fang
    Magerl, Wolfgang
    Contributors: 經濟系
    Keywords: Non-tâtonnement processes  ;Coordination; Learning; Agent-based modeling;  Walrasian general equilibrium; Heterogeneous agents 
    Date: 2018-11
    Issue Date: 2020-05-25 10:14:07 (UTC+8)
    Abstract: In this chapter, we develop an agent-based Scarf economy with heterogeneous agents, who have private prices and adaptively learn from their own experiences and those of others through a meta-learning model. We study the factors affecting the efficacy of price discovery and coordination to the Walrasian Equilibrium. We also find that payoff inequality emerges endogenously over time among the agents and this is traced back to intensity of choice (a behavioural parameter) and the associated strategy choices. Agents with high intensities of choice suffer lower payoffs if they do not explore and learn from other agents.
    Relation: Complex Systems Modeling and Simulation in Economics and Finance, Springer, pp.113-139
    Data Type: 專書篇章
    DOI: 10.1007/978-3-319-99624-0_6
    Appears in Collections:[經濟學系] 專書/專書篇章

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