Econophysics of Agent-based models

In economic models, there is usually the representative agent, who is ‘perfectly rational’ and uses the ‘utility maximization’ principle while taking action. One of its motivation to do so is the desire to keep models mathematically tractable: there are no tools available to economists for solving non-linear models of heterogeneous adaptive agents without explicit optimization. In contrast, multi-agent models, which originated from statistical physics considerations, allow us to go beyond the prototype theories with the ‘representative agent’ in traditional economics. In this conference, we would like to focus on recent developments concerning agent-based models in Econophysics.



Previous Workshops

ECONOPHYS-KOLKATA VI : Econophysics of Systemic Risk and Network Dynamics, 21-25 October 2011. Proc. Vol.: Econophysics of Systemic Risk and Network Dynamics, Eds. F. Abergel, B.K. Chakrabarti, A. Chakraborti, A. Ghosh, New Economic Windows, Springer-Verlag, Milan, 2012.

ECONOPHYS-KOLKATA V : Econophysics of Order-Driven Markets, 9-13 March 2010. Proc. Vol.: Econophysics of Order-driven Markets, Eds. F. Abergel, B.K. Chakrabarti, A. Chakraborti, M. Mitra, New Economic Windows, Springer-Verlag, Milan, 2011.

ECONOPHYS-KOLKATA IV : Econophysics of Games and Social Choices, 9-13 March 2009. Proc. Vol.: Econophysics & Economics of Games, Social Choices and Quantitative Techniques, Eds. B. Basu, B. K. Chakrabarti, S. R. Chakravarty, K. Gangopadhyay, New Economic Windows, Springer-Verlag, Milan, 2010.

ECONOPHYS-KOLKATA III: Econophysics & Sociophysics of Markets and Networks, 12-15 March 2007. Proc. Vol.: Econophysics of Markets and Business Networks, Eds. A. Chatterjee, B.K. Chakrabarti, New Economic Windows, Springer-Verlag, Milan, 2007.

ECONOPHYS-KOLKATA II: Econophysics of Stock Markets and Minority Games, 14-17 February 2006. Proc. Vol.: Econophysics of Stock and other Markets, Eds. A. Chatterjee, B.K. Chakrabarti, New Economic Windows, Springer-Verlag, Milan, 2006.

ECONOPHYS-KOLKATA I: Econophysics of Wealth Distributions, 15-19 March 2005. Proc. Vol.: Econophysics of Wealth Distributions, Eds. A. Chatterjee, S. Yarlagadda, B.K. Chakrabarti, New Economic Windows, Springer-Verlag, Milan, 2005.