Synopses & Reviews
Extends standard economic theory to take into account the presence of heterogeneity among economic agents, and argues for an approach to economic analysis which regards the economy as an interactive system with heterogeneous agents. Treats each sector of the economy as behaving like a single individual, and applies this approach to many macro- and microanalyses including monetary policy and firms, technological innovation, and the outsider-insider model.
Table of Contents
Interaction and markets /Alan Kirman --Tutorial on social interaction economics ;Multilevel interactions with a Keynesian flavour in a stochastic macroeconomic model /Edoardo Gaffeo --Economic theory and 'conformism' /Tommaso Luzzati --Firms' size and monetary policy : some New Keynesian reflections /Domenico Delli Gatti --Agents' heterogeneity and coordination failure : an experiment /Domenico Delli Gatti, Mauro Gallegati, Domenico Mignacca --Compartmental analysis of economic systems with heterogeneous agents : an introduction /Gian Italo Bischi --Macroeconomic fluctuations and heterogeneous agents /Gian Italo Bischi, Domenico Delli Gatti, Mauro Gallegati --Fluctuations and growth due to technological innovation and diffusion /Pier Giorgio Ardeni, Mauro Gallegati --Hysteresis and economics : a comparison between random walk and the concept of hysteresis deriving from physics. Some applications in economics /Fabio Fiorillo --Insider-outsider model with non-trivially heterogeneous labour force /Favio Fiorillo, Stefano Santacroce, Stefano Staffolani --Agents' heterogeneity, financial fragility, and learning /Domenico Delli Gatti, Mauro Gallegati, Antonio Palestrini.