Complexity
Complexity research focuses on the analysis and empirical validation of behavioral models under “bounded” rationality of agents. These agents behave in accordance with experimental and empirical evidence rather than assumptions on rationality. The central question is which aggregate behavior results from interactions of individual decisions of boundedly rational agents? Research topics are: complex systems and nonlinear dynamics; bounded rationality, learning and heterogeneous expectations; behavioral and experimental macro-finance; networks; dynamic games; strategic interaction and (non-)cooperative games.
Complexity
Complexity research focuses on the analysis and empirical validation of behavioral models under “bounded” rationality of agents. These agents behave in accordance with experimental and empirical evidence rather than assumptions on rationality. The central question is which aggregate behavior results from interactions of individual decisions of boundedly rational agents? Research topics are: complex systems and nonlinear dynamics; bounded rationality, learning and heterogeneous expectations; behavioral and experimental macro-finance; networks; dynamic games; strategic interaction and (non-)cooperative games.
Researchers in this field
Fellows
Fellows
PhD Students
PhD Students
Key Publications
Arifovic, J., Hommes, C., Kopányi-Peuker, A. and Salle, I. (2023). Ten Isn’t Large! Group Size and Coordination in a Large-Scale Experiment American Economic Journal: Microeconomics, 15(1):580--617.
Salle, I. (2022). Comment on “No firm is an island? How industry conditions shape firms’ expectations” by Philippe Andrade, Olivier Coibion, Erwan Gautier and Yuriy Gorodnichenko Journal of Monetary Economics, 125:.
Evans, G., Hommes, C., McGough, B. and Salle, I. (2022). Are long-horizon expectations (de-)stabilizing? Theory and experiments Journal of Monetary Economics, 132:44--63.
Houba, H., Li, D. and Wen, Q. (2022). Bargaining with costly competition for the right to propose Journal of Mathematical Economics, 98:1--9.
Hommes, C. (2021). Behavioral and experimental macroeconomics and policy analysis: A complex systems approach Journal of Economic Literature, 59(1):149--219.
Discussion Papers
24-021/II - On weighted-egalitarian values for cooperative games
Date: March 26, 2024
23-061/II - Degree Centrality, von Neumann-Morgenstern Expected Utility and Externalities in Networks
Date: September 27, 2023
23-013/II - Analyzing and forecasting economic crises with an agent-based model of the euro area
Date: March 09, 2023
22-97/II - Naϊve Learning in Social Networks with Fake News: Bots as a Singularity
Date: December 22, 2022
22-036/II - Highway toll allocation
Date: June 07, 2022
Upcoming events
Seminar
| 00:00 - 00:00
Netherlands Economists Day (NED)
KVS Tinbergen keynote lecture: Pol Antràs (Harvard University, United States)
Open Day
| Online | 00:00 - 00:00
UvA Master's Week (online)
Director of Graduate Studies and students
Open Day
| Rotterdam | 10:00 - 16:00
EUR Master Open Day (Hybrid event)
Director of Graduate Studies and students
Academic Distinctions
July 25, 2022
Florian Wagener elected President of the International Society...
Florian Wagener
July 01, 2021
ODISSEI Microdata Access Grant (MAG) for Titus Galama and Sjoerd...
Sjoerd van Alten,Titus Galama
June 17, 2021
Cars Hommes co-author of prize winning paper
Cars Hommes