Network structure and N-dependence in agent-based herding models

Simone Alfarano () and Mishael Milaković

Journal of Economic Dynamics and Control, 2009, vol. 33, issue 1, pages 78-92

Abstract: We derive microscopic foundations for a well-known probabilistic herding model in the agent-based finance literature. While the model is quite robust with respect to behavioral heterogeneity, the network structure describing the very feasibility of agent interaction turns out to have a crucial and non-trivial impact on the macroscopic properties of the model.

Keywords: CO2; D84; D85; G19; Herding; Networks; Mean-field; approach; N-dependence (search for similar items in EconPapers)
Date: 2009
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Persistent link: http://EconPapers.repec.org/RePEc:eee:dyncon:v:33:y:2009:i:1:p:78-92

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