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Explaining Social and Economic Phenomena by Models with Low or Zero Cognition Agents

  • P. Ormerod
  • M. Trabatti
  • K. Glass
  • R. Colbaugh
Part of the New Economic Windows book series (NEW)

Abstract

We set up agent based models in which agents have low or zero cognitive ability. We examine two quite diverse socio-economic phenomena, namely the distribution of the cumulative size of economic recessions in the United States and the distribution of the number of crimes carried out by individuals. We show that the key macro-phenomena of the two systems can be shown to emerge from the behaviour of these agents. In other words, both the distribution of economic recessions and the distribution of the number of crimes can be accounted for by models in which agents have low or zero cognitive ability.

Keywords

Output Growth Economic Recession Real Output Economic Phenomenon Plenary Talk 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Italia 2007

Authors and Affiliations

  • P. Ormerod
    • 1
  • M. Trabatti
    • 2
  • K. Glass
    • 1
  • R. Colbaugh
    • 3
  1. 1.Volterra Consulting Ltd.LondonUK
  2. 2.National Center for Genome ResourcesUSA
  3. 3.Department of DefenseWashingtonUSA

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