Complexity
The TI-Complexity research field focuses on the analysis and empirical validation of behavioral micro, macro and finance models under “bounded” rationality, where agents are not fully rational, but behave in accordance with experimental and empirical evidence. A central question is: which emerging aggregate macro behavior arises through the interactions of individual micro decisions of boundedly rational heterogeneous agents? Focus topics are: Complex systems & nonlinear dynamics; Bounded rationality, learning & heterogeneous expectations; Behavioral & experimental macro-finance; Complex networks; Dynamic games in complex systems; Strategic interaction and (non-)cooperative games.
Complexity
The TI-Complexity research field focuses on the analysis and empirical validation of behavioral micro, macro and finance models under “bounded” rationality, where agents are not fully rational, but behave in accordance with experimental and empirical evidence. A central question is: which emerging aggregate macro behavior arises through the interactions of individual micro decisions of boundedly rational heterogeneous agents? Focus topics are: Complex systems & nonlinear dynamics; Bounded rationality, learning & heterogeneous expectations; Behavioral & experimental macro-finance; Complex networks; Dynamic games in complex systems; Strategic interaction and (non-)cooperative games.
Researchers in this field
Fellows
Fellows
PhD Students
PhD Students
Key Publications
Assenza, T., Heemeijer, P., Hommes, C.H. and Massaro, D. (2020). Managing self-organization of expectations through monetary policy: A macro experiment Journal of Monetary Economics, :.
Lindner, I. (2020). Innovation and Inequality in a Small World International Economic Review, :.
Cornea-Madeira, A., Hommes, C. and Massaro, D. (2019). Behavioral Heterogeneity in U.S. Inflation Dynamics Journal of Business and Economic Statistics, 37(2):288--300.
Hommes, C. and Lustenhouwer, J. (2019). Inflation targeting and liquidity traps under endogenous credibility Journal of Monetary Economics, 107:48--62.
Arifovic, J., Hommes, C. and Salle, I. (2019). Learning to believe in simple equilibria in a complex OLG economy - evidence from the lab Journal of Economic Theory, 183:106--182.
Discussion Papers
20-012/II - Preventative Cancer Treatments Through Optimizing Tissue Structure
Date: February 22, 2020
20-014/II - Sharing the Surplus and Proportional Values
Date: February 22, 2020
20-007/II - Crowded trades, market clustering, and price instability
Date: February 04, 2020
19-076/II - Sequential bankruptcy problems
Date: November 16, 2019
19-072/II - Axiomatizations of the proportional division value
Date: November 01, 2019
Upcoming events
Seminar
| Amsterdam | 16:00 - 17:15
To be announced
Raquel Fernandez (New York University, United States)
- Macro Seminars, TI Complexity in Economics Seminars
Seminar
| Amsterdam | 16:00 - 17:15
Double Overreaction in Beauty-Contests with Information Acquisition:...
Camille Cornand (University of Lyon, France)
- TI Complexity in Economics Seminars
Seminar
| Amsterdam | 16:00 - 17:15
Why are Average Hours worked Lower in Richer Countries?
Nicola Fuchs-Schündeln (Goethe University Frankfurt, Germany)
- Macro Seminars, TI Complexity in Economics Seminars
Seminar
| Amsterdam | 16:00 - 17:15
To be announced
Gordon Menzies (University of Technology Sydney, Australia)
- TI Complexity in Economics Seminars