Related papers: Heterogeneity and the Dynamic Effects of Aggregate…
"Big data" gives markets access to previously unmeasured characteristics of individual agents. Policymakers must decide whether and how to regulate the use of this data. We study how new data affects incentives for agents to exert effort in…
Group-based reinforcement can induce discontinuous transitions from inactive to active phases in higher-order contagion models. However, these results are typically obtained on static interaction structures or within mean-field…
The complex relationship between climate shocks, migration, and adaptation hampers a rigorous understanding of the heterogeneous mobility outcomes of farm households exposed to climate risk. To unpack this heterogeneity, the analysis…
We study the impact of contact heterogeneity on epidemic dynamics. A system characterized by multiple susceptible populations is considered. The description of the spread of an infectious disease is obtained through the study of a system of…
Theory and empirical research on management teams' influence on firm performance have witnessed continuous development, and by now incorporate numerous details. Classic, experiment-based studies examining social systems collect vast amount…
This paper investigates how productivity dispersion relates to input misallocation in European manufacturing. The model features staggered productivity shocks that create wedges between anticipated and realized productivity for any…
Systemic financial risk refers to the simultaneous failure or destabilization of multiple financial institutions, often triggered by contagion mechanisms or common exposures to shocks. In this paper, we present a dynamical model of bank…
We examine the statistical properties of a closed monetary economy with multi-aggregates interactions. Building upon Yakovenko's single-agent monetary model (Dragulescu and Yakovenko, 2000), we investigate the joint equilibrium distribution…
We report on memory effects involved in the transient frictional response of a contact interface between a silicone rubber and a spherical glass probe when it is perturbed by changes in the orientation of the driving motion or by velocity…
This paper develops a new model and estimation procedure for panel data that allows us to identify heterogeneous structural breaks. We model individual heterogeneity using a grouped pattern. For each group, we allow common structural breaks…
We consider a simple model of a closed economic system where the total money is conserved and the number of economic agents is fixed. In analogy to statistical systems in equilibrium, money and the average money per economic agent are…
We suggest that the broad distribution of time scales in financial markets could be a crucial ingredient to reproduce realistic price dynamics in stylised Agent-Based Models. We propose a fractional reaction-diffusion model for the dynamics…
Recent empirical observations suggest a heterogeneous nature of human activities. The heavy-tailed inter-event time distribution at population level is well accepted, while whether the individual acts in a heterogeneous way is still under…
In this paper we consider a model of spreading information in heterogeneous systems wherein we have two kinds of objects. Some of them are active and others are passive. Active objects can, if they possess information, share it with an…
In this work, we analyse the relationship between heterogeneity and cooperation. Previous investigations suggest that this relation is nontrivial, as some authors found that heterogeneity sustains cooperation, while others obtained…
This paper analytically demonstrates that, in a Two-Agent New Keynesian model with Rotemberg-type price and wage rigidities, monetary transmission can be amplified when two mechanisms are sufficiently strong: the heterogeneity-induced…
Institutions and investors are constantly faced with the challenge of appropriately distributing endowments. No budget is limitless and optimising overall spending without sacrificing positive outcomes has been approached and resolved using…
Exploring the internal mechanism of information spreading is critical for understanding and controlling the process. Traditional spreading models often assume individuals play the same role in the spreading process. In reality, however,…
This paper investigates the interplay between information diffusion in social networks and its impact on financial markets with an Agent-Based Model (ABM). Agents receive and exchange information about an observable stochastic component of…
Physical contacts do not occur randomly, rather, individuals with similar socio-demographic and behavioural characteristics are more likely to interact among them, a phenomenon known as homophily. Concurrently, the same characteristics…