| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 10481574 | Physica A: Statistical Mechanics and its Applications | 2011 | 9 Pages |
Abstract
⺠We used a Markov chain approach to describe the stationary state of an agent based model. ⺠Our approach gave a rigorous mathematical formulation of the adverse selection phenomena. ⺠We obtained optimum asymmetric levels for given technological states of the economy. ⺠Market failure appears as a phase transition.
Related Topics
Physical Sciences and Engineering
Mathematics
Mathematical Physics
Authors
Paulo F.C. Tilles, Fernando F. Ferreira, Gerson Francisco, Carlos de B. Pereira, Flavia M. Sarti,