This book takes up unique agent-based approaches to solving problems related to stock and their derivative markets. Toward this end, the authors have worked for more than 15 years on the development of an artificial market simulator called U-Mart for use as a research and educational tool. A noteworthy feature of the U-Mart simulator compared to other artificial market simulators is that U-Mart is an ultra-realistic artificial stock and their derivative market simulator. For example, it can simulate arrowhead, a next-generation trading system used in the Tokyo Stock Exchange and other major...

This book is the result of Asian European collaborative research on the diversity of capitalisms and regional economic interdependence in Europe and Asia. In particular, the recent transformations of both regions are analyzed: the growing Chinese economy; institutional changes and de-industrialization in Japan; increasing international production linkages among China, Japan, Korea, and ASEAN; the enlargement of the European Union; the Euro crisis; and the diverging competitiveness between Southern Europe and Northern Europe. Under these circumstances, we witness the great transformation of...

This is the first book that comprehensively analyzes joint applications of patents from the European Union, Japan and the United States, which directly signify collaborations between companies or inventors, using the methodology of network science. Network science approaches enable us to predict structures of joint-application networks and to predict the impact of patents applied jointly. Regression analyses, which are broadly used in the field of economics, may be effective for determining what parameters are important for companies or inventors that are going to be connected, but they...

This book integrates the concept of design into the existing framework of industrial performance, international trade and comparative advantage in trade and industrial phenomena, which increasingly have been affected by design characteristics of tradable goods. Design, capability and their evolution are introduced into current theories of trade to explain the reality of international trade in the early twenty-first century and the possibility of design-based comparative advantage is explored. Toward that end, the concepts of design, architecture, organizational capability and productivity are...

This book presents an in-depth, novel, and mathematically rigorous treatment of the modern classical theory of structure and dynamics of prices and income distribution. That treatment is based on the spectral analysis of the price profit wage rate system. Furthermore, the book subjects that theory to empirical testing to show its logical consistency and explanatory content with respect to observed phenomena and to reveal its relevance to some economic policy issues. In this context, there is an examination of the trajectories of relative prices when the distributive variables change, both...

Fundamentals of Evolutionary Game Theory and its Applications

Modern evolutionary economics and classical political economy are combined in this book on the basis of the reproduction of agents and their relations in the social economy. However, modern evolutionary economics with its pluralistic and contingent view of reproduction does not presuppose equilibrium or harmonious reproduction. A society that consists of multiple agents needs to develop its order out of the interactions of those agents. The author introduces the struggle for recognition that proceeds with the act of exchange to conceive the emergence of social and economic order. The dual...

This book provides for the first time the microfoundations of evolutionary economics. It enables the reader to grasp a new framework for economic analysis that is compatible with evolutionary processes. Any independent economics must contain a value theory (or price theory) and price and quantity adjustment processes. Evolutionary economics rightly and successfully concentrated its efforts on explaining evolutionary processes in technology and institutions. However, it did not have its own value theory and could not explain the workings of everyday economics processes, in which any...

This book presents new theory and empirical studies on the roles of cognitive workload and fatigue on repeated financial decisions. The mathematical models that are developed here utilize two cusp catastrophe functions for discontinuous changes in performance and integrate objective measures of workload, subjective experiences, and individual differences among the decision makers. Additional nonlinear dynamical processes are examined with regard to persistence and antipersistence in decisions, entropy, further explanations of overall performance, and the identification of risk-optimization...