Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
979586 | Physica A: Statistical Mechanics and its Applications | 2007 | 11 Pages |
Abstract
This paper describes an agent-based model of interacting firms, in which interacting firm agents rationally invest capital and labor in order to maximize payoff. Both transactions and production are taken into account in this model. First, the performance of individual firms on a real transaction network was simulated. The simulation quantitatively reproduced the cumulative probability distribution of revenue, material cost, capital, and labor. Then, the response of the firms to a given exogenous shock, defined as a sudden change of gross domestic product, is discussed. The longer tail in cumulative probability and skewed distribution of growth rate are observed for a high growth scenario.
Related Topics
Physical Sciences and Engineering
Mathematics
Mathematical Physics
Authors
Yuichi Ikeda, Hideaki Aoyama, Hiroshi Iyetomi, Yoshi Fujiwara, Wataru Souma, Taisei Kaizoji,