Related papers: Governance, productivity and economic development
Context: Competitiveness is the key to a sustainable development and it demands agility at the business and organizational levels, which in turn requires a flexible and customizable IT environment and effective and responsive governance in…
We consider a heterogeneous agent-based economic model where economic agents have strictly bounded rationality and where income allocation strategies evolve through selective imitation. Income is calculated by a Cobb-Douglas type production…
Designing mechanisms that leverage cooperation between agents has been a long-lasting goal in Multiagent Systems. The task is especially challenging when agents are selfish, lack common goals and face social dilemmas, i.e., situations in…
We consider the problem of the evolution of a code within a structured population of agents. The agents try to maximise their information about their environment by acquiring information from the outputs of other agents in the population. A…
Do governments adjust budgetary policy to rising public debt, precluding fiscal unsustainability? Using budget data for 52 industrial and emerging economies since 1990, we apply panel methods accounting for cross-sectional dependence and…
Geopolitical conflicts have increasingly been a driver of trade policy. We study the potential effects of global and persistent geopolitical conflicts on trade, technological innovation, and economic growth. In conventional trade models the…
This paper analyzes whether a minimum wage should be used for redistribution on top of taxes and transfers. I characterize optimal redistribution for a government with three policy instruments -- labor income taxes and transfers, corporate…
This chapter examines the link between delegation and lobbying, two themes central to political economy. Delegation models explore how legislatures manage uncertainty and control bureaucratic agents, while lobbying models analyze how…
Recent trends in Agent Computational Economics research, envelop a government agent in the model of the economy, whose decisions are based on learning algorithms. In this paper we try to evaluate the performance of simulated annealing in…
We propose a stylized model of a complex economy to explore the economic tradeoffs imposed by the so called "green transition" -- the shift towards more sustainable production paradigms -- using tools from the Statistical Mechanics of…
Agents exert hidden effort to produce randomly-sized innovations in a technology they share. Flow payoffs grow as the technology develops, but so does the marginal cost of effort. I characterise the unique symmetric MPE with the quality of…
A model is developed to study the effectiveness of innovation and its impact on structure creation and structure change on agent-based societies. The abstract model that is developed is easily adapted to any particular field. In any…
We consider the sectoral composition of a country's GDP, i.e. the partitioning into agrarian, industrial, and service sectors. Exploring a simple system of differential equations we characterize the transfer of GDP shares between the…
A general information equilibrium model in the case of ideal information transfer is defined and then used to derive the relationship between supply (information destination) and demand (information source) with the price as the detector of…
How can governments attract entrepreneurs and their businesses? The view that new business creation grows with the optimal level of government investments remains appealing to policymakers. In contrast with this active approach, we build a…
The distribution of money is analysed in connection with the Boltzmann distribution of energy in the degenerate states of molecules. Plots of the population density of income distribution for various countries are well reproduced by a Gamma…
Sustainable Development Goals are intrinsically competing, but their embedding into urban systems furthermore emphasises such compromises, due to spatial complexity, the non-optimal nature of such systems, and multi-objective aspects of…
Economic systems are similar with physic systems for their large number of individuals and the exist of equilibrium. In this paper, we present a model applying the equilibrium statistical model in economic systems. Consistent with…
In a recent paper, we analyzed the self-assembly of a complex cooperation network. The network was shown to approach a state where every agent invests the same amount of resources. Nevertheless, highly-connected agents arise that extract…
Diversified economies are critical for cities to sustain their growth and development, but they are also costly because diversification often requires expanding a city's capability base. We analyze how cities manage this trade-off by…