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http://hdl.handle.net/10419/22052
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| Title: | | Should Network Structure Matter in Agent-Based Finance?  |
| Authors: | | Alfarano, Simone Milaković, Mishael |
| Issue Date: | | 2008 |
| Series/Report no.: | | Economics working paper / Christian-Albrechts-Universität Kiel, Department of Economics 2008,04 |
| 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. |
| Subjects: | | Herding networks mean-field approach N-dependence |
| Appears in Collections: | | Economics Working Papers, Department of Economics, CAU Kiel
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