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Economies with Interacting Agents

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  • Alan P. Kirman

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 behavior 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 neighbors. Both static and dynamic models are considered and the latter includes the class of evolutionary economic models.

Suggested Citation

  • Alan P. Kirman, 1994. "Economies with Interacting Agents," Working Papers 94-05-030, Santa Fe Institute.
    • Handle: RePEc:wop:safiwp:94-05-030
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    Cited by:

    1. Fagiolo, Giorgio & Dosi, Giovanni, 2003. "Exploitation, exploration and innovation in a model of endogenous growth with locally interacting agents," Structural Change and Economic Dynamics, Elsevier, vol. 14(3), pages 237-273, September.
    2. Leigh S. Tesfatsion, "undated". "An Evolutionary Trade Network Game with Preferential Partner Selection," Computing in Economics and Finance 1996 _057, Society for Computational Economics.
    3. Tesfatsion, Leigh, 1995. "A Trade Network Game with Endogenous Partner Selection," ISU General Staff Papers 199505010700001034, Iowa State University, Department of Economics.
    4. Lise Gastaldi & Cathy Krohmer & Claude Paraponaris, 2017. "Activités et collectifs. Approches cognitives et organisationnelles. Introduction," Post-Print halshs-01579857, HAL.
    5. Kirman, Alan P. & Vriend, Nicolaas J., 2001. "Evolving market structure: An ACE model of price dispersion and loyalty," Journal of Economic Dynamics and Control, Elsevier, vol. 25(3-4), pages 459-502, March.
    6. Leigh TESFATSION, 1995. "How Economists Can Get Alife," Economic Report 37, Iowa State University Department of Economics.
    7. Nicolaas J. Vriend, 2002. "Was Hayek an Ace?," Southern Economic Journal, John Wiley & Sons, vol. 68(4), pages 811-840, April.
    8. Masanao Aoki, 1995. "Economic Fluctuations With Interactive Agents: Dynamic And Stochastic Externalities," The Japanese Economic Review, Japanese Economic Association, vol. 46(2), pages 148-165, June.

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