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on Computational Economics |
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Issue of 2015‒01‒09
eight papers chosen by |
| By: | Takashi Kamihigashi (Research Institute for Economics & Business Administration (RIEB), Kobe University, Japan); John Stachurski (Research School of Economics, Australian National University, Australia) |
| Abstract: | In this paper we introduce a technique for perfect simulation from the stationary distribution of a standard model of industry dynamics. The method can be adapted to other, possibly non-monotone, regenerative processes found in industrial organization and other fields of economics. The algorithm we propose is a version of coupling from the past. It is straightforward to implement and exploits the regenerative property of the process in order to achieve rapid coupling. Keywords: Regeneration, simulation, coupling from the past, perfect sampling. |
| Date: | 2014–11 |
| URL: | http://d.repec.org/n?u=RePEc:kob:dpaper:dp2014-37&r=cmp |
| By: | Kleijnen, Jack P.C. (Tilburg University, Center For Economic Research) |
| Abstract: | Abstract: This article surveys optimization of simulated systems. The simulation may be either deterministic or random. The survey reflects the author’s extensive experience with simulation-optimization through Kriging (or Gaussian process) metamodels. The analysis of these metamodels may use parametric bootstrapping for deterministic simulation or distribution-free bootstrapping (or resampling) for random simulation. The survey covers: (1) Simulation-optimization through "efficient global optimization" (EGO) using "expected improvement" (EI); this EI uses the Kriging predictor variance, which can be estimated through parametric bootstrapping accounting for estimation of the Kriging parameters. (2) Optimization with constraints for multiple random simulation outputs and deterministic inputs through mathematical programming applied to Kriging metamodels validated through distribution-free bootstrapping. (3) Taguchian robust optimization for uncertain environments, using mathematical programming— applied to Kriging metamodels— and distribution- free bootstrapping to estimate the variability of the Kriging metamodels and the resulting robust solution. (4) Bootstrapping for improving convexity or preserving monotonicity of the Kriging metamodel. |
| Keywords: | simulation; optimization; stochastic process; non-linear programming; risk |
| JEL: | C0 C1 C9 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiucen:6ac4e049-ad86-447f-aeec-ad5d9ccc7248&r=cmp |
| By: | Ouraich, Ismail; Dudu, Hasan; Tyner, Wallace E.; Cakmak, Erol |
| Abstract: | This paper examines the interaction of globalization through trade liberalization and climate change, globally with a special focus on Morocco and Turkey. We use the GTAP model, which is a global general equilibrium model, to investigate trade liberalizat |
| Keywords: | climate change, adaptation, uncertainty, CGE model, trade liberalization |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp2014-100&r=cmp |
| By: | Christian Kofler (Institute of Production and Operations Management, Karl-Franzens-University Graz); Peter Greistorfer (Institute of Production and Operations Management, Karl-Franzens-University Graz); Haibo Wang (Division of International Business & Technology Studies, Texas A&M International University); Gary Kochenberger (University of Colorado Business School) |
| Abstract: | We consider a penalty function approach for the solving of the Max 3-SAT problem. The algorithm introduced is a multi-start approach that makes use of elite-solution techniques derived from scatter search. More precisely, it is based on the so-called adaptive memory projection metaphor. The main focus of this paper is to demonstrate the usefulness of this projection idea in the context of the binary Max 3-SAT. We review the literature in that field, explain the metaheuristic proposed and present results on the basis of a DIMACS test set. |
| Date: | 2014–12–11 |
| URL: | http://d.repec.org/n?u=RePEc:grz:wpsses:2014-04&r=cmp |
| By: | Alexander Knobel (Gaidar Institute for Economic Policy); Bekhan Chokaev (RANEPA) |
| Abstract: | This paper investigates the possible economic effects of Russia-EU free trade agreement, implying a mutual zero import tariffs in the trade of the Customs Union and the EU. Analysis of the effects is made using CGE Globe v1 model. We estimate the impact of an FTA on the economies, both at the level of the entire economy and at the industry level. The sensitivity analysis is made. It is shown that, in both relative and absolute terms, Russia potentially more benefits from the agreement than the EU. The cumulative gain of the CU is strictly positive, but the benefits and costs are unevenly distributed among its members, with negative effect for Belarus. |
| Keywords: | Customs Union, European Union, Free Trade Agreement, CGE |
| JEL: | C68 F15 F17 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:gai:wpaper:0107&r=cmp |
| By: | Balz R. Bodenmann; Breogan Sanchez; Alexandra Zeiler; Milan Kuliowsky; Peter Furtak; Georgios Sarlas |
| Abstract: | Spatial and transport planners, authorities, real estate developers, investors, re-locating residents and businesses have different questions related to space and transport. These questions may concern specific land parcels, or cover a much larger area such as a city, a region, or even a whole nation. Amongst others, these questions include: - How will our society respond to influences of global economy and political decisions (e.g. regarding demographics and firmographics)? - Which strategies will help authorities and politicians to reach their goals? - What are the spatial effects (and side-effects) of these decisions and demographic changes (e.g. spatial/social segregation, use of resources and infrastructure, climate impact)? To answer these questions, different scenarios have been simulated including all 3000 municipalities in Switzerland using the integrated transport and land use simulation tool FaLC (Facility Location Choice Simulation Tool). FaLC incorporates interactions between land use, transportation, economy and public policy and has been developed in a joint project between the Institute for Transport Planning and Systems (IVT) at ETH Zurich, regioConcept (Switzerland) and ESMO (Slovakia). The models in FaLC focus on the effects of changing infrastructure supply, political decisions, and economic conditions on the spatial behaviour (location and relocation choices, transport flows) of persons (places of residence, work, leisure and shopping), firms (domicile, branches) and goods (freights, wholesale, retail, cash flow). In FaLC, persons move (or stay) in a certain space divided into a number of subareas (locations), comparable to a chess board. The agents' movement includes the daily commuters between home, work and leisure, as well as long-term decisions such as; where they live, work and generally spend their spare time. The first prototype of FaLC is already in operation and ready to create future scenarios. The implemented case study for Switzerland focusses basically on three scenarios: - Effects of road network modification - Effects of company taxes reduction - Effects of land regulation modification This paper shows the effects and side-effects of these assumed spatial interventions. Additionally, it discusses some problems of the chosen micro-simulation approach (e.g. data availability, white noise, choice of subsets). |
| Keywords: | Spatial Planning; Land Use; Transport; Scenarios; Simulation; Urban Policy; |
| JEL: | H30 J10 J20 R11 R12 R30 R42 R52 R58 |
| Date: | 2014–11 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa14p1130&r=cmp |
| By: | Jo Michell (University of the West of England) |
| Abstract: | Post Keynesian economics has largely forgotten Steindl's insight that monopolisation of the corporate sector redistributes profits to those firms least likely to invest them productively. Agent-based methods can be used to incorporate Steindl's insights into a simple stock-flow consistent model of monetary circuit. This model illustrates the 'maldistribution of profits' and 'enforced indebtedness' of heterogeneous firms alongside the tendency towards stagnation that occurs with rising monopolisation. The model also demostrates Minsky's assertion that firms' leverage rises over the business cycle can be reconciled with Kalecki's macroeconomic identities showing that profits are 'financed' by the investment expenditures of firms. |
| Keywords: | Stock-flow consistent, heterogeneous agents, Post-Keynesian |
| JEL: | C63 E22 E25 E42 |
| Date: | 2014–11 |
| URL: | http://d.repec.org/n?u=RePEc:pke:wpaper:pkwp1412&r=cmp |
| By: | Jahn, Malte |
| Abstract: | Climate change may affect subnational regions in very different ways. In this paper, a spatial computable general equilibrium (SCGE) model is constructed and a theoretical framework is developed to study impacts of climate change induced extreme weather events and of corresponding adaptation policies on a regional economy, focusing on water-related extreme events. The model makes use of regionalized input-output tables to represent the regional economy and takes into account different zones inside the region which have different socio-economic structures and also different levels of exposure to extreme weather. The model is used to estimate possible spatial effects and regional economic losses of climate change induced ood events in the city of Hamburg, Germany and to evaluate flood adaptation measures. |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:hwwirp:154&r=cmp |