scholarly journals Connectivity, Information Jumps, and Market Stability: An Agent-Based Approach

Complexity ◽  
2017 ◽  
Vol 2017 ◽  
pp. 1-16 ◽  
Author(s):  
Khaldoun Khashanah ◽  
Talal Alsulaiman
Keyword(s):  
Free Market ◽  
Agent Based ◽  
Scale Free ◽  
Jump Size ◽  
Inaccurate Information ◽  
Volatility Index ◽  
Market Stability ◽  
Information Awareness ◽  
Simulated Market

We propose a metamodel to assess simulated market stability by introducing information connectivity in an agent-based network. The market is occupied by heterogeneous agents with different behaviors, strategies, and information connectivity. A jump-diffusion process simulating events that may occur in the market is introduced. Agents information awareness varies along with agents propensity to respond to the information jump and jump size. A jump reshuffles market positions based on agents risk preferences determined by behavior and strategy. We examine the effect of information awareness on the volatility index of the simulated market in a scale-free market network. The analysis is performed by developing five experiments wherein the first one corresponds to systemic information ignorance state. Three experiments examine the role of hubs, normal agents, and hermits in the network when intermediate combinations of agent types have information awareness. The fifth experiment corresponds to the systemic information awareness with all agents being informed. The results show that the simulated market is driven to instability in a similar manner to patterns observed in a crisis where all agents become homogeneous in information awareness of events. Hubs contribute to increased connectivity and act as amplifiers of good, bad, or inaccurate information or sentiment.

scholarly journals Effectiveness of Intervention Strategies on MERS-CoV Transmission Dynamics in South Korea, 2015: Simulations on the Network Based on the Real-World Contact Data

2021 ◽  
Vol 18 (7) ◽  
pp. 3530
Author(s):  
Yunhwan Kim ◽  
Hohyung Ryu ◽  
Sunmi Lee
Keyword(s):  
South Korea ◽  
Real World ◽  
Intervention Strategies ◽  
Transmission Dynamics ◽  
Contact Tracing ◽  
Agent Based ◽  
The Real ◽  
Scale Free ◽  
Contact Data

The MERS-CoV spread in South Korea in 2015 was not only the largest outbreak of MERS-CoV in the region other than the Middle East but also a historic epidemic in South Korea. Thus, investigation of the MERS-CoV transmission dynamics, especially by agent-based modeling, would be meaningful for devising intervention strategies for novel infectious diseases. In this study, an agent-based model on MERS-CoV transmission in South Korea in 2015 was built and analyzed. The prominent characteristic of this model was that it built the simulation environment based on the real-world contact tracing network, which can be characterized as being scale-free. In the simulations, we explored the effectiveness of three possible intervention scenarios; mass quarantine, isolation, and isolation combined with acquaintance quarantine. The differences in MERS-CoV transmission dynamics by the number of links of the index case agent were examined. The simulation results indicate that isolation combined with acquaintance quarantine is more effective than others, and they also suggest the key role of super-spreaders in MERS-CoV transmission.

KEGAGALAN PRIVATISASI BUMN DI ERA REZIM ORDE BARU DALAM PERSPEKTIF EKONOMI POLITIK

Wacana Publik ◽  
2019 ◽  
Vol 12 (02) ◽  
Author(s):  
Syamsul Ma'arif
Keyword(s):  
Market Economy ◽  
Free Market ◽  
Dominant Role ◽  
The State ◽  
Early Years ◽  
New Order ◽  
Free Market Economy ◽  
Economic Sectors ◽  
Role Of The State

After had being carried out nationalization and hostility against west countries, the New Order regime made important decision to change Indonesia economic direction from etatism system to free market economy. A set of policies were taken in order private sector could play major role in economic. However, when another economic sectors were reformed substantially, effords to reform the State Owned Enterprises had failed. The State Owned Enterprise, in fact, remained to play dominant role like early years of guided democracy era. Role of the State Owned Enterprises was more and more powerfull). The main problem of reforms finally lied on reality that vested interest of bureaucrats (civil or military) was so large that could’nt been overcome. 

The Applied-Ethical Structural Synthesis of International Development

2019 ◽  
Vol 50 (197) ◽  
Author(s):  
Nikos Astroulakis
Keyword(s):  
International Development ◽  
Free Market ◽  
National Level ◽  
Applied Ethics ◽  
Global Ethics ◽  
Structural Synthesis ◽  
Policy Theory ◽  
Development Institutions ◽  
Market Relations

<p>The paper challenges the mainstream stance in the study of applied ethics<br />in international development. Applied ethics is positioned at the macro-social level<br />of global ethics while a specific codification is attempted by formulating international development based on its structural synthesis, in a threefold level: First, the structural synthesis –associated with the framework of existing international development policy–can be found in the ‘market relations’. Second, the analysis specifies the policies applied at the national level and the role of nation-state policy. Third, the paper criticizes the international development institutions’ policies. In each of the levels mentioned above, the analysis reveals the fundamental policy theory issues of neoclassical economics, as the intellectual defender of free market economics.</p>

John Paul II’s Centesimus Annus

2018 ◽  
Author(s):  
Matthew A. Shadle
Keyword(s):  
Common Good ◽  
Free Market ◽  
Human Person ◽  
Economic Life ◽  
Pope John Paul Ii ◽  
John Paul Ii ◽  
Human Creativity ◽  
God's Grace ◽  
Centesimus Annus

Pope John Paul II wrote his 1991 encyclical Centesimus Annus to offer a Catholic vision of political and economic life after the collapse of communism in Eastern Europe and the democratization of many countries in Latin America and Asia. The encyclical provided a stronger defense of the free-market economy than had previous Catholic social teaching, and neoconservative Catholics saw it as a vindication of their views. Centesimus Annus also harshly condemns consumerism, however, and proposes that the state has a greater role in ensuring that the economy serves the common good than do the neoconservatives. John Paul II recognizes the essential role of human creativity and ingenuity in the economy, but balances this by emphasizing that the human person is the recipient of God’s grace.

scholarly journals The Role of Family and Friends in Return Migration and Its Labor Market Outcomes

2021 ◽  
Author(s):  
Brian Joseph Gillespie ◽  
Clara H. Mulder ◽  
Christiane von Reichert
Keyword(s):  
Labor Market ◽  
Survey Data ◽  
Significant Relationship ◽  
Return Migration ◽  
Labor Market Outcomes ◽  
Age Groups ◽  
Market Outcomes ◽  
Market Stability ◽  
Onward Migration

AbstractDrawing on survey data on individuals’ motives for migration in Sweden (N = 2172), we examine the importance of family and friends for return versus onward migration, including their importance for different age groups and in different communities on the rural–urban spectrum. The results point to a significant relationship between the importance of family and return versus onward migration, with family importance decreasing with age among returning migrants. At the same time, the importance of friends for returning increases with age. The findings did not suggest a significant relationship between urbanicity and returning versus migration elsewhere. Based on a subset of respondents who were employed prior to migrating (n = 1056), we further examined labor market outcomes for onward versus returning migrants. The results broadly indicate that return migrations are linked to lower likelihoods of labor market deterioration and improvement, suggesting greater labor market stability for return vis-à-vis onward migrations. However, the importance of family for returning (versus moving elsewhere) is associated with higher likelihoods of labor market deterioration and improvement compared with staying the same, indicating greater volatility in labor market outcomes when the importance of family is considered.

scholarly journals Exploring the effectiveness of a COVID-19 contact tracing app using an agent-based model

2020 ◽  
Vol 10 (1) ◽  
Author(s):  
Jonatan Almagor ◽  
Stefano Picascia
Keyword(s):  
High Rate ◽  
Contact Tracing ◽  
Agent Based Model ◽  
Agent Based ◽  
The Social ◽  
Behavioural Factors ◽  
The Impact ◽  
Different Levels ◽  
User Rate

AbstractA contact-tracing strategy has been deemed necessary to contain the spread of COVID-19 following the relaxation of lockdown measures. Using an agent-based model, we explore one of the technology-based strategies proposed, a contact-tracing smartphone app. The model simulates the spread of COVID-19 in a population of agents on an urban scale. Agents are heterogeneous in their characteristics and are linked in a multi-layered network representing the social structure—including households, friendships, employment and schools. We explore the interplay of various adoption rates of the contact-tracing app, different levels of testing capacity, and behavioural factors to assess the impact on the epidemic. Results suggest that a contact tracing app can contribute substantially to reducing infection rates in the population when accompanied by a sufficient testing capacity or when the testing policy prioritises symptomatic cases. As user rate increases, prevalence of infection decreases. With that, when symptomatic cases are not prioritised for testing, a high rate of app users can generate an extensive increase in the demand for testing, which, if not met with adequate supply, may render the app counterproductive. This points to the crucial role of an efficient testing policy and the necessity to upscale testing capacity.

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