Network Theory and Agent-Based Modeling in Economics and Finance

Network Theory and Agent-Based Modeling in Economics and Finance
Author: Anindya S. Chakrabarti
Publisher: Springer Nature
Total Pages: 454
Release: 2019-10-23
Genre: Business & Economics
ISBN: 9811383197

This book presents the latest findings on network theory and agent-based modeling of economic and financial phenomena. In this context, the economy is depicted as a complex system consisting of heterogeneous agents that interact through evolving networks; the aggregate behavior of the economy arises out of billions of small-scale interactions that take place via countless economic agents. The book focuses on analytical modeling, and on the econometric and statistical analysis of the properties emerging from microscopic interactions. In particular, it highlights the latest empirical and theoretical advances, helping readers understand economic and financial networks, as well as new work on modeling behavior using rich, agent-based frameworks. Innovatively, the book combines observational and theoretical insights in the form of networks and agent-based models, both of which have proved to be extremely valuable in understanding non-linear and evolving complex systems. Given its scope, the book will capture the interest of graduate students and researchers from various disciplines (e.g. economics, computer science, physics, and applied mathematics) whose work involves the domain of complexity theory.

The Network Economy

The Network Economy
Author: Adrianus Pieter de Man
Publisher: Edward Elgar Publishing
Total Pages: 216
Release: 2004
Genre: Business & Economics
ISBN:

Smart network strategies, structures and management are necessary to build and maintain networks. This account of the current state of the network economy uses examples from Toyota, Microsoft, Cisco, Glaxo, Nokia and airline alliances to illustrate effective network management.

The Wealth of Networks

The Wealth of Networks
Author: Yochai Benkler
Publisher: Yale University Press
Total Pages: 532
Release: 2006-01-01
Genre: Business & Economics
ISBN: 9780300125771

Describes how patterns of information, knowledge, and cultural production are changing. The author shows that the way information and knowledge are made available can either limit or enlarge the ways people create and express themselves. He describes the range of legal and policy choices that confront.

Social and Economic Networks

Social and Economic Networks
Author: Matthew O. Jackson
Publisher: Princeton University Press
Total Pages: 519
Release: 2010-11-01
Genre: Business & Economics
ISBN: 140083399X

Networks of relationships help determine the careers that people choose, the jobs they obtain, the products they buy, and how they vote. The many aspects of our lives that are governed by social networks make it critical to understand how they impact behavior, which network structures are likely to emerge in a society, and why we organize ourselves as we do. In Social and Economic Networks, Matthew Jackson offers a comprehensive introduction to social and economic networks, drawing on the latest findings in economics, sociology, computer science, physics, and mathematics. He provides empirical background on networks and the regularities that they exhibit, and discusses random graph-based models and strategic models of network formation. He helps readers to understand behavior in networked societies, with a detailed analysis of learning and diffusion in networks, decision making by individuals who are influenced by their social neighbors, game theory and markets on networks, and a host of related subjects. Jackson also describes the varied statistical and modeling techniques used to analyze social networks. Each chapter includes exercises to aid students in their analysis of how networks function. This book is an indispensable resource for students and researchers in economics, mathematics, physics, sociology, and business.

Economics and Management of Networks

Economics and Management of Networks
Author: Gérard Cliquet
Publisher: Springer Science & Business Media
Total Pages: 460
Release: 2007-03-20
Genre: Business & Economics
ISBN: 3790817589

Previous research on the institutional structure of franchising networks (Bri- ley et al. 1991; Lutz 1995; Shane 1998; Lafontaine and Shaw 1999, 2005; - fuso 2002; Penard et al. 2003a,b) does not explain the governance structure of the franchising firm as an institutional entity that consists of two interrelated parts: Residual decision rights and ownership rights. The latter includes not only residual income rights of franchised outlets but also residual income rights of franchisor-owned outlets. Previous studies primarily examines the incentive, signalling and screening effects of fees, royalties and other contractual pro- sions from the point of view of organizational economics (see Dnes 1996 for a review) without taking into account the interactions between residual decision and residual income rights as interrelated parts of the governance structure. This paper fills this gap in the literature. According to the property rights view, de- sion rights should be allocated according to the distribution of intangible kno- edge assets between the franchisor and franchisee and ownership rights should be assigned according to the residual decision rights. Since ownership rights are diluted in franchising networks, the dilution of residual income rights of fr- chised outlets is compensated by residual income rights of company-owned o- lets. Under a dual ownership structure, company-owned outlets compensate the disincentive effect of low royalties for the franchisor, and low royalties strengthen the investment incentives for the franchisee.

Supply Chain Network Economics

Supply Chain Network Economics
Author: Anna Nagurney
Publisher: Edward Elgar Publishing
Total Pages: 456
Release: 2006-01-01
Genre: Business & Economics
ISBN: 9781781008553

This book is the first to bring an economics perspective in a rigorous manner to complex decision-making in the management of supply chains. It provides the foundations for the modeling of the interrelationships among decision-makers in supply chains, ranging from manufacturers, distributors, and retailers, to the consumers, assuming individualized behavior. The models handle both competition and cooperation and provide the resulting product flows and prices in the chains. A unique network economics perspective is brought to the issue, setting the book apart from the numerous management and operations research volumes available. After an introduction of the theoretical foundations, the book then extends and applies the theory to energy supply chains in the form of electric power generation and distribution networks. The relationships between electric power supply chains and transportation networks are vividly captured through theoretical results and the solution of practical examples. The book then explores environmental supply chain and financial networks with intermediation, which are interpreted as supply chains and also solved as such. Throughout, the underlying theme is that of transportation networks and how the relationships between supply chain networks and the more established theory of transportation network equilibria can be applied and exploited for logistic-type applications. Economists and transportation researchers will find the book's theory and applications of great interest. Operations researchers and management scientists as well as practitioners in business logistics will be interested in the book's methodological and practical tools.

The Human Network

The Human Network
Author: Matthew O. Jackson
Publisher: Vintage
Total Pages: 354
Release: 2020-02-04
Genre: Social Science
ISBN: 1101972963

Here is a fresh, intriguing, and, above all, authoritative book about how our sometimes hidden positions in various social structures—our human networks—shape how we think and behave, and inform our very outlook on life. Inequality, social immobility, and political polarization are only a few crucial phenomena driven by the inevitability of social structures. Social structures determine who has power and influence, account for why people fail to assimilate basic facts, and enlarge our understanding of patterns of contagion—from the spread of disease to financial crises. Despite their primary role in shaping our lives, human networks are often overlooked when we try to account for our most important political and economic practices. Matthew O. Jackson brilliantly illuminates the complexity of the social networks in which we are—often unwittingly—positioned and aims to facilitate a deeper appreciation of why we are who we are. Ranging across disciplines—psychology, behavioral economics, sociology, and business—and rich with historical analogies and anecdotes, The Human Network provides a galvanizing account of what can drive success or failure in life.

The Oxford Handbook of the Economics of Networks

The Oxford Handbook of the Economics of Networks
Author: Yann Bramoullé
Publisher: Oxford University Press
Total Pages: 857
Release: 2016-03-01
Genre: Business & Economics
ISBN: 0190216832

The Oxford Handbook of the Economics of Networks represents the frontier of research into how and why networks they form, how they influence behavior, how they help govern outcomes in an interactive world, and how they shape collective decision making, opinion formation, and diffusion dynamics. From a methodological perspective, the contributors to this volume devote attention to theory, field experiments, laboratory experiments, and econometrics. Theoretical work in network formation, games played on networks, repeated games, and the interaction between linking and behavior is synthesized. A number of chapters are devoted to studying social process mediated by networks. Topics here include opinion formation, diffusion of information and disease, and learning. There are also chapters devoted to financial contagion and systemic risk, motivated in part by the recent financial crises. Another section discusses communities, with applications including social trust, favor exchange, and social collateral; the importance of communities for migration patterns; and the role that networks and communities play in the labor market. A prominent role of networks, from an economic perspective, is that they mediate trade. Several chapters cover bilateral trade in networks, strategic intermediation, and the role of networks in international trade. Contributions discuss as well the role of networks for organizations. On the one hand, one chapter discusses the role of networks for the performance of organizations, while two other chapters discuss managing networks of consumers and pricing in the presence of network-based spillovers. Finally, the authors discuss the internet as a network with attention to the issue of net neutrality.

Network Models in Economics and Finance

Network Models in Economics and Finance
Author: Valery A. Kalyagin
Publisher: Springer
Total Pages: 305
Release: 2014-09-23
Genre: Mathematics
ISBN: 3319096834

Using network models to investigate the interconnectivity in modern economic systems allows researchers to better understand and explain some economic phenomena. This volume presents contributions by known experts and active researchers in economic and financial network modeling. Readers are provided with an understanding of the latest advances in network analysis as applied to economics, finance, corporate governance, and investments. Moreover, recent advances in market network analysis that focus on influential techniques for market graph analysis are also examined. Young researchers will find this volume particularly useful in facilitating their introduction to this new and fascinating field. Professionals in economics, financial management, various technologies, and network analysis, will find the network models presented in this book beneficial in analyzing the interconnectivity in modern economic systems.

Port Economics, Management and Policy

Port Economics, Management and Policy
Author: Theo Notteboom
Publisher: Routledge
Total Pages: 812
Release: 2022-01-31
Genre: Transportation
ISBN: 1000526933

Port Economics, Management and Policy provides a comprehensive analysis of the contemporary port industry, showing how ports are organized to serve the global economy and support regional and local development. Structured in eight sections plus an introduction and epilog, this textbook examines a wide range of seaport topics, covering maritime shipping and international trade, port terminals, port governance, port competition, port policy and much more. Key features of the book include: Multidisciplinary perspective, drawing on economics, geography, management science and engineering Multisector analysis including containers, bulk, break-bulk and the cruise industry Focus on the latest industry trends, such as supply chain management, automation, digitalization and sustainability Benefitting from the authors’ extensive involvement in shaping the port sector across five continents, this text provides students and scholars with a valuable resource on ports and maritime transport systems. Practitioners and policymakers can also use this as an essential guide towards better port management and governance.