Suche Kontakt Impressum

Institut für VWL | UnivIS | ERASMUS | QIS | Site Plan

Christian-Albrechts-Universität zu Kiel

Institut für Volkswirtschaftslehre - Department of Economics
Economics Working Papers

Economics Working Papers: Abstract 2008-04


Nummer

2008-04

Autoren

Simone Alfarano, Mishael Milakovic

 

Titel

 

Should Network Structure Matter in Agent-Based Finance?
Abstract We derive microscopic foundations for a well-known probabilistic herding model in the agent-based finance literature. Lo and behold, the model is quite robust with respect to behavioral heterogeneity, yet structural heterogeneity, in the sense of an underlying network structure that describes the very feasibility of agent interaction, has a crucial and non-trivial impact on the macroscopic properties of the model.

Keywords: Herding, networks, mean-field approach, N-dependence

JEL classification:

 

Links

 

weiter zum Full Text

zurück zur Übersicht