dorsal/arxiv
View SchemaResponse of Firm Agent Network to Exogenous Shock
| Authors | Yuichi Ikeda, Hideaki Aoyama, Hiroshi Iyetomi, Yoshi Fujiwara, Wataru Souma, Taisei Kaizoji |
|---|---|
| Categories | |
| ArXiv ID | physics/0607287 |
| URL | https://arxiv.org/abs/physics/0607287 |
| DOI | 10.1016/j.physa.2007.02.016 |
Abstract
This paper describes an agent-based model of interacting firms, in which interacting firm agents rationally invest capital and labor in order to maximize payoff. Both transactions and production are taken into account in this model. First, the performance of individual firms on a real transaction network was simulated. The simulation quantitatively reproduced the cumulative probability distribution of revenue, material cost, capital, and labor. Then, the response of the firms to a given exogenous shock, defined as a sudden change of gross domestic product, is discussed. The longer tail in cumulative probability and skewed distribution of growth rate are observed for a high growth scenario.
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"abstract": "This paper describes an agent-based model of interacting firms, in which\ninteracting firm agents rationally invest capital and labor in order to\nmaximize payoff. Both transactions and production are taken into account in\nthis model. First, the performance of individual firms on a real transaction\nnetwork was simulated. The simulation quantitatively reproduced the cumulative\nprobability distribution of revenue, material cost, capital, and labor. Then,\nthe response of the firms to a given exogenous shock, defined as a sudden\nchange of gross domestic product, is discussed. The longer tail in cumulative\nprobability and skewed distribution of growth rate are observed for a high\ngrowth scenario.",
"arxiv_id": "physics/0607287",
"authors": [
"Yuichi Ikeda",
"Hideaki Aoyama",
"Hiroshi Iyetomi",
"Yoshi Fujiwara",
"Wataru Souma",
"Taisei Kaizoji"
],
"categories": [
"physics.soc-ph",
"q-fin.GN"
],
"doi": "10.1016/j.physa.2007.02.016",
"title": "Response of Firm Agent Network to Exogenous Shock",
"url": "https://arxiv.org/abs/physics/0607287"
},
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