CeNDEF Working Papers

From Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance
Dept. of Economics and Econometrics, Universiteit van Amsterdam, Roetersstraat 11, NL - 1018 WB Amsterdam, The Netherlands.
Contact information at EDIRC.
Bibliographic data for series maintained by Cees C.G. Diks ().

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13-04: Fund Choice Behavior and Estimation of Switching Models: An Experiment

Mikhail Anufriev, Jan Tuinstra and Te Bao

13-03: Markov=Perfect Nash Equilibria in Models With a Single Capital Stock

Engelbert Dockner and Florian Wagener

13-02: Strategies and Evolution in the Minority Game: A Multi- Round Strategy Experiment

Joep Sonnemans, Jan Tuinstra and J. Linde

13-01: The impact of short-selling constraints on financial market stability in a heterogeneous agents model

Mikhail Anufriev and Jan Tuinstra

12-10: Evolution of Repeated Prisoner's Dilemma Play under Logit Dynamics

M. Ochea

12-09: Behavioral Learning Equilibria

Cars Hommes and M. Zhu

12-08: E Pluribus Unum: Macroeconomic Modelling for Multi-agent Economies

Tiziana Assenza and Domenico Delli Gatti

12-07: Animal Spirits, Heterogeneous Expectations and the Amplification and Duration of Crises

Tiziana Assenza, William Brock and Cars Hommes

12-06: Market-Induced Rationalization and Welfare Enhancing Cartels

D. In `t Veld and Jan Tuinstra

12-05: Learning Cycles in Bertrand Competition with Differentiated Commodities and Competing Learning Rules

Mikhail Anufriev, Jan Tuinstra and Dávid Kopányi

12-04: Volatility: Expectations and Realizations

R. Peters and Roy van der Weide

12-03: Behavioral Heterogeneity in U.S. Inflation Dynamics

Adriana Cornea-Madeira, Cars Hommes and Domenico Massaro

12-02: Regime shifts: early warnings

D. Massaro

12-01: Regime shifts: early warnings

Florian Wagener

11-12: Complex Methods in Economics: An Example of Behavioral Heterogeneity in House Prices

Wilko Bolt, Maria Demertzis, Cees Diks and Marco van der Leij

11-11: From Mind to Market: A Global, Dynamic Analysis of R&D

Jeroen Hinloopen, Grega Smrkolj and Florian Wagener

11-10: On the stability of the Cournot equilibrium: An evolutionary approach

Cars Hommes, M. Ochea and Jan Tuinstra

11-09: Excess Covariance and Dynamic Instability in a Multi-Asset Model

Mikhail Anufriev, Giulio Bottazzi, M. Marsili and Paolo Pin

11-08: Learning, Forecasting and Optimizing: an Experimental Study

Te Bao, John Duffy and Cars Hommes

11-07: Experimental Based, Agent Based Stock Market

Jakob Grazzini

11-06: Evolutionary Selection of Individual Expectations and Aggregate Outcomes in Asset Pricing Experiments

Mikhail Anufriev and Cars Hommes

11-05: Bifurcations of Optimal Vector Fields

Tatiana Kiseleva and Florian Wagener

11-04: Learning under misspecification: a behavioral explanation of excess volatility in stock prices and persistence in inflation

Cars Hommes and M. Zhu

11-03: Phenomenological and ratio bifurcations of a class of discrete time stochastic processes

Cees Diks and Florian Wagener

11-02: The Size of Stable International Environmental Agreements in the case of Stock Pollution

Aart de Zeeuw, Stephen Polasky and Florian Wagener

11-01: Individual Expectations and Aggregate Macro Behavior

Tiziana Assenza, P. Heemeijer, Cars Hommes and Domenico Massaro

10-11: Competing Recombinant Technologies for Environmental Innovation: Extending Arthur’s Model of Lock-in Abstract: This article presents a model of sequential decisions about investments in environmentally dirty and clean technologies, which extends the path-dependence framework of Arthur (1989). This allows us to evaluate if and how an economy locked into a dirty technology can be unlocked and move towards the clean technology. The main extension involves the inclusion of the effect of recombinant innovation of the two technologies. A mechanism of endogenous competition is described involving a positive externality of increasing returns to investment which are counterbalanced by recombinant innovation. We determine conditions under which lock-in can be avoided or escaped. A second extension is “symmetry breaking†of the system due to the introduction of an environmental policy that charges a price for polluting. A final extension adds a cost of environmental policy in the form of lower returns on investment implemented through a growth-depressing factor. We compare cumulative pollution under different scenarios, so that we can evaluate the combination of environmental regulation and recombinant innovation

Jeroen van den Bergh and P. Zeppini Rossi

10-10: Optimal Management with Potential Regime Shifts

Aart de Zeeuw, Stephen Polasky and Florian Wagener

10-09: A class of evolutionary model for participation games with negative feedback

Pietro Dindo and Jan Tuinstra

10-08: Positive expectations feedback experiments and number guessing games as models of financial markets

Joep Sonnemans and Jan Tuinstra

10-07: Individual Expectations, Limited Rationality and Aggregate Outcomes

Te Bao, Cars Hommes, Joep Sonnemans and Jan Tuinstra

10-06: The Heterogeneous Expectations Hypothesis: Some Evidence from the Lab

Cars Hommes

10-05: Evolutionary Selection of Expectations in Positive and Negative Feedback Markets

Mikhail Anufriev, Cars Hommes and R. Philipse

10-04: Multiple Steady States, Limit Cycles and Chaotic Attractors in Evolutionary Games with Logit Dynamics

Cars Hommes and M. Ochea

10-03: The impact of short-selling constraints on financial market stability in a model with heterogeneous agents

Mikhail Anufriev and Jan Tuinstra

10-02: Asset Price Dynamics with Local Interactions under Heterogeneous Beliefs

S. Gerasymchuk and O.V. Pavlov

10-01: Efficiency of Continuous Double Auctions under Individual Evolutionary Learning with Full or Limited Information

Mikhail Anufriev, Jasmina Arifovic, D. Ledyard and Valentyn Panchenko

09-17: Asset Prices and Monetary Policy: A New View of the Cost Channel

Tiziana Assenza, Michele Berardi and Domenico Delli Gatti

09-16: Incomplete Contract and Divisional Structures

Te Bao and Y. Wang

09-15: Boundedly rational learning and heterogeneous trading strategies with hybrid neuro-fuzzy models

Stelios Bekiros

09-14: Genesis of indifference thresholds and infinitely many indifference points in discrete time infinite horizon optimisation problems

S. Moghayer and Florian Wagener

09-13: Information Flows Around the Globe: Predicting Opening Gaps from Overnight Foreign Stock Price Patterns

Jan G. Gooijer, Cees Diks and L. Gatarek

09-12: Bifurcations of optimal vector fields in the shallow lake model

Tatiana Kiseleva and Florian Wagener

09-11: Market Equilibria under Procedural Rationality

Mikhail Anufriev and Giulio Bottazzi

09-10: Does eductive stability imply evolutionary stability?

Cars Hommes and Florian Wagener

09-09: Evolutionary Selection of Individual Expectations and Aggregate Outcomes

Mikhail Anufriev and Cars Hommes

09-08: On conjugate points and the Leitmann equivalent problem approach

Florian Wagener

09-07: Is more memory in evolutionary selection (de)stabilizing?

Cars Hommes, Tatiana Kiseleva, Y. Kuznetsov and Miroslav Verbič

09-06: A parametrised version of Moser's modifying terms theorem

Florian Wagener

09-05: Shallow lake economics run deep: Nonlinear aspects of an economic-ecological interest conflict

Florian Wagener