Simulating the coordination of individual economic decisions

Andrzej Nowak, Marek Kuś, Jakub Urbaniak and Tomasz Zarycki

Physica A: Statistical Mechanics and its Applications, 2000, vol. 287, issue 3, 613-630

Abstract: The model of dynamic social influence is used to describe the coordination of individual economic decisions. Computer simulations of the model show that the social and economic transitions occur as growing clusters of “new” in the sea of old. The model formulated at the individual level may be used to derive another one concerning the aggregate level. The aggregate level model was used to simulate spatio-temporal dynamics of the number of privately owned enterprises in Poland during the transition from centrally governed to the market economy. Analysis revealed the similarity between the model predictions and economic data.

Date: 2000
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0378437100003976
Full text for ScienceDirect subscribers only. Journal offers the option of making the article available online on Science direct for a fee of $3,000

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:287:y:2000:i:3:p:613-630

DOI: 10.1016/S0378-4371(00)00397-6

Access Statistics for this article

Physica A: Statistical Mechanics and its Applications is currently edited by K. A. Dawson, J. O. Indekeu, H.E. Stanley and C. Tsallis

More articles in Physica A: Statistical Mechanics and its Applications from Elsevier
Bibliographic data for series maintained by Catherine Liu ().