Christian R. Proaño
Dr. Ilfan Oh
Philipp Mundt Christian Babirat
The focus of our research is on formally modelling trading strategies for asset portfolios using methods from mathematical control theory.
The characteristics of trading strategies are analyzed in a mathematically rigorous way, in particular by means of stochastic differential equations.
In addition, we are interested in the wider economic impact of such strategies and their interactions with other trading strategies as applied in
financial markets. This analysis builds on heterogeneous agents-models. A final field of research is non-linear model predictive control (NMPC) with
Prof. Dr. B. Herz
Prof. Dr. L. Grüne
Dr. M. H. Baumann
GENED related work at Bielefeld University focuses an agent-based policy analysis with particular focus on industrial dynamics, labor market dynamics
and financial regulation. Furthermore, heterogeneous agent models are employed to gain a better understanding (of dynamic) mechanisms responsible for the generation of
(income) inequaltiy in different contexts. The group also contributes to the methodological development of agent-based modelling both with respect to the design and
empirical foundations of the models and with respect to the tools for statistically sound analysis of simualtion results.
J.-Prof. Dr. Tomasz Makarewicz
Dr. Philipp Harting
Dr. Kerstin Hötte
Dr. Dirk Kohlweyer
Miquel Bassart i Lore
Ruhr University Bochum
The Institute’s main field of research is behavioural and complexity macroeconomics. Here, the actual behaviour of economic agents is analysed with the use of several empirical methods, such as econometric analyses, survey studies
and laboratory experiments. Based on findings gained from empirical research, new macroeconomic models can then be
developed using agent-based computer simulations. At the behavioural level, researchers at the institute investigate
the formation of expectations, the use of information, and people’s strategies for decision-making under uncertainty. Agent-based models are used to study sustainability issues at the macroeconomics level, such as the sustainability of
pension systems, the sustainable use of natural resources, or questions of sustainable growth in the long term.
Technische Universität Darmstadt
The members of the GENED group from Technische Universität Darmstadt build Agent-Based Models on various topics
with a strong focus on economic inequality. The effect of policies addressing inequality between households or regions
is evaluated in more elaborate macroeconomics models as well as in partial models of the financial or the labor market.
More specifically, the group is interested in the distributional effects of educational
voucher programs, market based affirmative action policies, social networks and gender inequality, or the effects of European Union regional funds programs.
Michael Neugart and past members of the group
Metin Akyol (State of Wisconsin- Investment Board)
Thomas Fischer (Lunds Universität)
Justus Liebig University Gießen
The team at the Justus-Liebig-University in Giessen puts emphasis on the validation of agent based models including
the development of calibration and estimation methods. Current research also addresses the operationalization of model
complexity. For applications, a focus is on financial markets. In particular, explicit modelling of markets with high frequency trading in an agent based model is on the current research agenda.
Friedrich Schiller University Jena
The members of the GENED group from the Friedrich Schiller University conduct research using Agent-Based Models on
various topics with a strong emphasis on innovation economics.
On the current agenda are, for example, questions related
to tax incentives for innovations, policies stimulating evolution and diffusion of renewable energy generation technologies
(REGTs) and evolution of R&D networks. Principles of evolutionary economics but also evolutionary optimization play an important role in investigating those topics.
Johannes Karl Herrmann
Mike Daniel Farjam
Eko Agus Prasetio
Karlsruher Institut für Technologie
- Otto Friedrich University Bamberg
The team of Frank Westerhoff develops, calibrates and estimates small-scale, behavioral, agent-based models to investigate the dynamics of financial markets and the macroeconomy. These models are also used to
study the effects of policy measures such as transaction taxes, central bank interventions, trade barriers or monetary and fiscal policy rules. Analytical and numerical tools from the theory of nonlinear dynamical
systems and complexity sciences play an important role in this endeavor.
The research of the team of Mishael Milakovic is centered around the concept of a statistical economic equilibrium, that is a situation in which the interactions of heterogeneous economic agents produce robust
distributional regularities in spite of considerable fluctuations in the underlying individual destinies over time. Examples of such distributional regularities abound in economics and finance, including the (non-Gaussian)distributions of firm and agglomeration sizes, wealth and income, or the profitability and growth of firms. From a methodological point of view, the statistical equilibrium approach can serve as a ’disciplining device’
for large scale agent-based simulations, allowing researchers to discard microscopic characteristics or interaction mechanisms that cancel out in the process of aggregation, while at the same time offering insights into
the macroscopic constraints that are relevant for the observed distributional outcomes.
The group of researchers at the Karlsruhe Institute of Technology works mainly on the role of general purpose technologies (GPTs) in knowledge networks.
Of special interest is the transition from simple value creation chains to complex networks that account for various interdependencies and feedback effects arising due to horizontal and vertical
linkages between the involved actors. The group is supported by Helmholtz research grant (HIRG-0069) and works closely with colleagues from the Bureau d'Economie Théorique et Appliquée (BETA), France.
Prof. Ingrid Ott
Christian Albrechts University Kiel
Dr. Daniel Fricke
Dr. Jaba Ghonghadze
Dr. Matthias Raddant
Duc Thi Luu
Centre for European Economic
Research (ZEW) Mannheim
Prof. Michael Schröder
Assoc.-Prof. Dipl.-Vw. Dr. Dmitri Blüschke, Alpen Adria University Klagenfurt
Claudius Gräbner, Johannes Kepler University Linz
Prof. Dr. Torsten Heinrich, Oxford Martin School, University of Oxford
Prof. Dr. Diego d'Andria, Schmalkalden University of Applied Sciences
Dr. Lina Kalimullina, University of Tübingen
Dr. Anna Klabunde, Max-Planck-Institut für demographische Forschung
Philipp Marquardt, Universität Mannheim
Dr. Patrick Mellacher, Universität Graz
Johannes Muck, Heinrich Heine University Düsseldorf