Complexity
Complexity research focuses on the analysis and empirical validation of models based on “bounded” rationality of agents. The behavior of these agents is in accordance with experimental and empirical evidence rather than standard 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 & nonlinear dynamics; bounded rationality, learning & heterogeneous expectations; behavioral & experimental macro-finance; networks; dynamic games; strategic interaction and (non-)cooperative games.
Complexity
Complexity research focuses on the analysis and empirical validation of models based on “bounded” rationality of agents. The behavior of these agents is in accordance with experimental and empirical evidence rather than standard 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 & nonlinear dynamics; bounded rationality, learning & heterogeneous expectations; behavioral & experimental macro-finance; networks; dynamic games; strategic interaction and (non-)cooperative games.
Researchers in this field
Fellows
Fellows
PhD Students
PhD Students
Key Publications
Li, W., Xu, G. and van den Brink, R. (2024). Sign properties and axiomatizations of the weighted division values Journal of Mathematical Economics, 112:.
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.
Discussion Papers
24-076/II - Power in plurality games
Date: December 20, 2024
24-079/II - A Unifying Theory of Aging and Mortality
Date: December 20, 2024
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
Academic Distinctions
July 25, 2022
Florian Wagener elected President of the International Society...
Florian Wagener
June 17, 2021
Cars Hommes co-author of prize winning paper
Cars Hommes
January 19, 2019
EU Horizon 2020 funding for Cars Hommes, Cees Diks and Jan Tuinstra...
Cees Diks,Cars Hommes,Jan Tuinstra