Università Cattolica del Sacro Cuore

Call for papers


Background


Many aggregate patterns can be explained as emerging from complex systems of heterogeneous agents, in which the interaction of agents at the micro level forms the macro properties of the economic system, thereby determining the emergence of macro regularities such as economic growth, unemployment, and income distribution. This important link between the micro and macro level of an economic system has not received sufficient attention in the economic theory, which has traditionally been split in the two domains of microeconomics and macroeconomics. In the past, when building an economic model, large sacrifices with respect to realism had to be made in order to maintain analytical tractability. Frequently, macroeconomic models received a “microfoundation” by assuming that the population consisted of one single representative agent (or an army of "identical clones"). While this helped to keep the models tractable, a large amount of potential investigations were ruled out by assumption.

The growth of computational power and the increased affordability of computers opened up new perspectives on the exploration of socially relevant questions. Agent-based economics can provide solutions to problems that are difficult to study with the methodological standard toolkit of economists. Indeed, models with heterogeneous agents can replicate artificial economies populated by a vast multitude of agents whose interactions can give rise to stable and predictable, as well as highly volatile, aggregate configurations at the macro level. Such methodology allows for the presence of feedbacks among agents and the economic environment in which they interact, such as the emergence of credit networks with possible contagion effects, the endogenous appearance of boom and bust cycles, as well as the emerging distributions on the firm and household level.


Aims and scope


The Workshop on Economic Science with Heterogeneous Interacting Agents (WEHIA) is the annual conference of the Society for Economic Studies with Heterogeneous Interacting Agents. WEHIA 2017 represents a unique opportunity to present discuss the latest research on various aspects of the economy as a complex system made up of heterogeneous interacting agents. Research from different domains – economics, psychology, sociology, computer sciences, engineering, physics – can prove useful in developing new insightful approaches to key issues such as the origin, development and mitigation of financial crises, unemployment and poverty, income and wealth inequality and many others. 


Topics


  • Agent Based Models (ABMs): theory and computation, calibration and estimation
  • Macroeconomic ABMs: emergence of dynamic aggregate behavior 
  • Microeconomic ABMs: markets and individual behavior 
  • Macro-epidemiological ABMs: contagion, public health conditions and macroeconomic performance
  • Economic growth and technical change 
  • Sustainable development and climate change
  • Complex Dynamics
  • Economic, Financial and Social Networks
  • Econophysics: application of statistical physics methods to economic issues
  • Experimental Economics
  • Bounded rationality and learning
  • Evolutionary Game Theory
  • Economy as a Complex System
  • Analysis of Wealth and Income Inequality
  • Emergence of Cooperation
  • Big Data and Artificial Intelligence in Economics
  • Spatial agent models and urban complex adaptive systems
  • Cryptocurrency Research
  • DSGE models with heterogeneous agents

Submissions


Submission can be done by email. Contributions should be submitted in the form of extended abstracts (max 2 pages) or full paper as PDF files to: wehia2021@gmail.com


The first page of the submitted material must contain authors’ affiliations and, at least, three keywords. In case of co-authored research, the submitter will be assumed to be the presenter, unless differently specified. Only one paper per presenter is allowed. 


Important dates


Deadline for submission 23 May 2021

Notification of acceptance 6 June 2021.

Registration opens: 7 June 2021.


Venue


Online

Organized by Università Cattolica del Sacro Cuore di Milano, in collaboration with Kiel University, Università di Catania, Università Politecnica delle Marche.