SFB 303 Discussion Paper No. A - 500
Author: Kirman, Alan P.
Title: Economies with Interacting Agents
Abstract: This paper discusses economic models in which agents interact directly
with each other rather than through the price system as in the standard
general equilibrium model. It is suggested that the relationship between
micro and macro behaviour is very different than that in the standard model
and that the aggregate phenomena that can arise are rich. The models
considered include ones with global interaction in which all agents can
interact with each other and ones in which agents can only interact with
their immediate neighbours. Both static and dynamic models are considered
and the latter includes the class of evolutionary economic models. Finally,
models in which communication networks evolve are discussed.
Keywords: Equilibrium, Local and Global Interaction, Communication, Dynamics,
JEL-Classification-Number: C0, D0, D5
Creation-Date: October 1995
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