By Moshe Levy (auth.), Robert A. Meyers Ph. D. (eds.)
Complex platforms in Finance and Econometrics is an authoritative connection with the fundamental instruments and ideas of complexity and platforms concept as utilized to an figuring out of complicated, financial-based company and social structures. Fractals, nonlinear time sequence modeling, mobile automata, video game thought, community concept and statistical physics are one of the crucial instruments and strategies for predicting, tracking, comparing, dealing with, and decision-making in quite a lot of fields from healthiness care, poverty relief, and effort and the surroundings, to production and caliber insurance, version development, organizational studying. and macro and microeconomics. Sixty of the world’s top specialists current forty seven articles for an viewers of complex undergraduate and graduate scholars, professors, and execs in all of those fields.
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Extra resources for Complex Systems in Finance and Econometrics
There is evidently a recognizable (and often recognized) divide between the behavioral assumptions of neoclassical economics on the one hand and, on the other hand, common observation, experimental observation (cf. ) and a host of business histories (the work of Chan- 23 24 Agent Based Modeling and Neoclassical Economics: A Critical Perspective dler [12,13] and Penrose  being surely the most inﬂuential). The evidence shows that the assumptions of neoclassical economics are inaccurate descriptions of the behavior the theories and models are purported to represent.
In other words, when there is a substantial price increase (decrease), EMB investors become more (less) aggressive and the opposite happens to the informed traders. As we have seen before, when a positive feedback loop is started, the EMB investors are more dominant in determining the price, and therefore another large price increase (decrease) is expected next period. This large price change is likely to be associated with heavy trading volume as the opinions of the two populations diverge. Furthermore, this large increase (decrease) is expected to make the EMB investors even more optimistic (pessimistic) leading to another large price increase (decrease) and heavy volume next period.
J Portfolio Manag 16:4–12 34. Samuelson PA (1994) The long term case for equities and how it can be oversold. J Portf Management 21:15–24 35. Sargent T (1993) Bounded rationality and macroeconomics. Oxford University Press, Oxford 36. Schelling TC (1978) Micro motives and macro behavior. Norton & Company, New York 37. Shiller RJ (1981) Do stock prices move too much to be justified by subsequent changes in dividends? Am Econ Rev 71: 421–436 38. Stauffer D, de Oliveira PMC, Bernardes AT (1999) Monte Carlo Simulation of volatility correlation in microscopic market model.