LEADER 05262nam 22007452 450 001 9910449979403321 005 20160511153343.0 010 $a1-107-12030-6 010 $a1-280-15912-X 010 $a0-511-11865-1 010 $a0-511-01878-9 010 $a0-511-15665-0 010 $a0-511-32934-2 010 $a0-511-51064-0 010 $a0-511-04599-9 035 $a(CKB)1000000000005257 035 $a(EBL)201438 035 $a(OCoLC)437063058 035 $a(SSID)ssj0000203942 035 $a(PQKBManifestationID)11172925 035 $a(PQKBTitleCode)TC0000203942 035 $a(PQKBWorkID)10176537 035 $a(PQKB)11163769 035 $a(UkCbUP)CR9780511510649 035 $a(MiAaPQ)EBC201438 035 $a(Au-PeEL)EBL201438 035 $a(CaPaEBR)ebr10014615 035 $a(CaONFJC)MIL15912 035 $a(EXLCZ)991000000000005257 100 $a20090312d2002|||| uy| 0 101 0 $aeng 135 $aur||||||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aModeling aggregate behavior and fluctuations in economics $estochastic views of interacting agents /$fMasanao Aoki$b[electronic resource] 210 1$aCambridge :$cCambridge University Press,$d2002. 215 $a1 online resource (xv, 263 pages) $cdigital, PDF file(s) 300 $aTitle from publisher's bibliographic system (viewed on 05 Oct 2015). 311 $a0-521-60619-5 311 $a0-521-78126-4 320 $aIncludes bibliographical references (p. 245-252) and indexes. 327 $tOur Objectives and Approaches --$tPartial List of Applications --$tStates: Vectors of Fractions of Types and Partition Vectors --$tVectors of Fractions --$tPartition Vectors --$tJump Markov Processes --$tThe Master Equation --$tDecomposable Random Combinatorial Structures --$tSizes and Limit Behavior of Large Fractions --$tSetting Up Dynamic Models --$tTwo Kinds of State Vectors --$tEmpirical Distributions --$tExchangeable Random Sequences --$tPartition Exchangeability --$tTransition Rates --$tDetailed-Balance Conditions and Stationary Distributions --$tThe Master Equation --$tContinuous-Time Dynamics --$tPower-Series Expansion --$tAggregate Dynamics and Fokker-Planck Equation --$tDiscrete-Time Dynamics --$tIntroductory Simple and Simplified Models --$tA Two-Sector Model of Fluctuations --$tClosed Binary Choice Models --$tA Polya Distribution Model --$tOpen Binary Models --$tTwo Logistic Process Models --$tModel 1: The Aggregate Dynamics and Associated Fluctuations --$tModel 2: Nonlinear Exit Rate --$tA Nonstationary Polya Model --$tAn Example: A Deterministic Analysis of Nonlinear Effects May Mislead! --$tAggregate Dynamics and Fluctuations of Simple Models --$tDynamics of Binary Choice Models --$tDynamics for the Aggregate Variable --$tPotentials --$tCritical Points and Hazard Function --$tMultiplicity--An Aspect of Random Combinatorial Features --$tEvaluating Alternatives --$tRepresentation of Relative Merits of Alternatives --$tValue Functions --$tExtreme Distributions and Gibbs Distributions --$tType I: Extreme Distribution. 330 $aThis book has two components: stochastic dynamics and stochastic random combinatorial analysis. The first discusses evolving patterns of interactions of a large but finite number of agents of several types. Changes of agent types or their choices or decisions over time are formulated as jump Markov processes with suitably specified transition rates: optimisations by agents make these rates generally endogenous. Probabilistic equilibrium selection rules are also discussed, together with the distributions of relative sizes of the bases of attraction. As the number of agents approaches infinity, we recover deterministic macroeconomic relations of more conventional economic models. The second component analyses how agents form clusters of various sizes. This has applications for discussing sizes or shares of markets by various agents which involve some combinatorial analysis patterned after the population genetics literature. These are shown to be relevant to distributions of returns to assets, volatility of returns, and power laws. 517 3 $aModeling Aggregate Behavior & Fluctuations in Economics 606 $aDemand (Economic theory)$xMathematical models 606 $aSupply and demand$xMathematical models 606 $aConsumption (Economics)$xMathematical models 606 $aBusiness cycles$xMathematical models 606 $aStatics and dynamics (Social sciences)$xMathematical models 606 $aStochastic processes$xMathematical models 615 0$aDemand (Economic theory)$xMathematical models. 615 0$aSupply and demand$xMathematical models. 615 0$aConsumption (Economics)$xMathematical models. 615 0$aBusiness cycles$xMathematical models. 615 0$aStatics and dynamics (Social sciences)$xMathematical models. 615 0$aStochastic processes$xMathematical models. 676 $a338.5/212 700 $aAoki$b Masanao$054078 801 0$bUkCbUP 801 1$bUkCbUP 906 $aBOOK 912 $a9910449979403321 996 $aModeling aggregate behavior and fluctuations in economics$91130040 997 $aUNINA