{"product_id":"new-approaches-to-macroeconomic-modeling-evolutionary-stochastic-dynamics-multiple-equilibria-and-externalities-as-field-effects-9780521637695","title":"New Approaches to Macroeconomic Modeling: Evolutionary Stochastic Dynamics, Multiple Equilibria, and Externalities as Field Effects","description":"\u003cp\u003e • Author(s): Masanao Aoki | Aoki Masanao\u003cbr\u003e • Publisher: Cambridge University Press\u003cbr\u003e • Publisher Imprint: Cambridge University Press\u003cbr\u003e • BISAC: Economics - Theory\u003c\/p\u003e\u003cp\u003eThis book contributes substantively to the current state of the art of macroeconomic modeling by providing a method for modeling large collections of heterogeneous agents subject to nonpairwise externality called field effects, i.e. feedback of aggregate effects on individual agents or agents using state-dependent strategies. Adopting a level of microeconomic description that keeps track of compositions of fractions of agents by \"types\" or \"strategies\", time evolution of the microeconomic states is described by (backward) Chapman-Kolmogorov equations.\u003c\/p\u003e","brand":"Cambridge University Press","offers":[{"title":"Paperback","offer_id":46897300439191,"sku":"9780521637695","price":5624.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9780521637695.webp?v=1770362156","url":"https:\/\/atlanticbooks.com\/products\/new-approaches-to-macroeconomic-modeling-evolutionary-stochastic-dynamics-multiple-equilibria-and-externalities-as-field-effects-9780521637695","provider":"Atlantic Books","version":"1.0","type":"link"}