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on Computational Economics |
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Issue of 2008‒12‒21
four papers chosen by |
| By: | Sebastian J. Goerg; Thorsten Chmura; Reinhard Selten |
| Abstract: | In this paper we introduce four new learning models: impulse balance learning, impulse matching learning, action-sampling learning, and payoff-sampling learning. With this models and together with the models of self- tuning EWA learning and reinforcement learning, we conduct simulations over 12 different 2×2 games and compare the results with experimental data obtained by Selten & Chmura (2008). Our results are two-fold: While the simulations, especially those with action-sampling learning and impulse matching learning successfully replicate the experimental data on the aggregate, they fail in describing the individual behavior. A simple inertia rule beats the learning models in describing individuals behavior. |
| Keywords: | Learning, Action-sampling, Payo?-sampling, Impulse balance, Impulse matching, Reinforcement, self-tuning EWA, 2×2 games, Experimental data |
| JEL: | C72 C91 C92 |
| Date: | 2008–12 |
| URL: | http://d.repec.org/n?u=RePEc:bon:bonedp:bgse18_2008&r=cmp |
| By: | Bukhari, Syed Adnan Haider Ali Shah; Khan, Safdar Ullah |
| Abstract: | This paper estimates a small open economy Dynamic Stochastic General Equilibrium (DSGE) model for Pakistan using Bayesian simulation approach. Model setup is based on new Keynesian framework, characterized by nominal rigidity in prices with habit formation in household’s consumption. The core objective is to study whether an estimated small open economy DSGE model provides a realistic behavior about the structure Pakistan economy with fully articulated description of the monetary policy transmission mechanism vis-à-vis domestic firm’s price setting behavior. To do so, we analyze the impulse responses of key macro variables; domestic inflation, imported inflation, output, consumption, interest rate, exchange rate, term of trade to different structural/exogenous shocks. From several interesting results, few are; (a) high inflation in Pakistan do not hit domestic consumption significantly; (b) Central bank of Pakistan responds to high inflation by increasing the policy rate by 100 to 200 bps; (c) exchange rate appreciates in both the cases of high domestic and imported inflation; (d) tight monetary policy stance helps to curb domestic inflation as well as imported inflation but appreciates exchange rate significantly (f) pass through of exchange rate to domestic inflation is very low; finally parameter value of domestic price stickiness shows that around 24 percent domestic firms do not re-optimize their prices which implies averaged price contract is about two quarters. |
| Keywords: | New-Keynesian economics; open economy DSGE models; nominal rigidities; monetary policy transmission mechanism; Bayesian Approach |
| JEL: | F37 E32 E52 F47 E47 |
| Date: | 2008–11–18 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:12184&r=cmp |
| By: | Chergui, M. E-A; Moulai, M. |
| Abstract: | Integer linear fractional programming problem with multiple objective MOILFP is an important field of research and has not received as much attention as did multiple objective linear fractional programming. In this work, we develop a branch and cut algorithm based on continuous fractional optimization, for generating the whole integer efficient solutions of the MOILFP problem. The basic idea of the computation phase of the algorithm is to optimize one of the fractional objective functions, then generate an integer feasible solution. Using the reduced gradients of the objective functions, an efficient cut is built and a part of the feasible domain not containing efficient solutions is truncated by adding this cut. A sample problem is solved using this algorithm, and the main practical advantages of the algorithm are indicated. |
| Keywords: | multiobjective programming; integer programming; linear fractional programming; branch and cut. |
| JEL: | C44 C61 |
| Date: | 2007–06–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:12097&r=cmp |
| By: | Buda, Rodolphe |
| Abstract: | This paper presents an empirical micro-simulation model of the teaching and the testing process in the classroomH. It is a non-econometric micro-simulation model describing informational behaviors of the pupils, based on the observation of the pupils’ communication behavior during lessons and tests. The representation of the knowledge process is very simplified. However, we tried to study the involvements of individual motivation, capability and relationship with other pupils of each pupil, to compare them to the new-classical(and keynesian) and Austrian information and knowledge theoretical results. It is a first step and future development should concern expectation behaviors and dynamics. This paper aims too to give, we hope so, some criteria of pupils’ rationality in the classroom. |
| Keywords: | Teaching ; Learning ; Cheating ; Information ; Communication ; Knowledge ; Micro-simulation ; Classroom |
| JEL: | G14 C88 D83 A2 B53 |
| Date: | 2009–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:12146&r=cmp |