Publications

Below we list the scientific publications of GENED members since 2013

Journals 2024

Colombo L., Dawid H., Harting P. (2024) R&D location in dynamic industry environments, Journal of Econmomic Geography 24(1): 41-62 link

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Dawid H., Di X., Kort P.M., Muehlheusser G. (2024) Autonomous vehicles policy and safety investment: An equilibrium analysis with endogenous demand, Transportation Research Part= B: Methodological 182: 102908 link

Foramitti, J., Savin, I., and van den Berg, J. (2024) How carbon pricing affects human needs: An agent-based model analysis, Ecological Economics, 217:108070 link

Mestre Garcia C., Savin, I., and van den Bergh, J.(2024) The nexus of COVID-19 and climate change: a literature review, Journal of Economics and Statistics, forthcoming link

Proaño C.R., Makarewicz T., Kukacka J. (2024), Belief-Driven Dynamics in a Behavioral SEIRD Macroeconomic Model with Sceptics, Journal of Economic Behavior & Organization 217, 312-333 link

Savin I., Drews S., van den Bergh J.(2024) Carbon Pricing - Strengths, Weaknesses and Knowledge Gaps according to a Global Survey, Environmental Research Letters, 19 024014 link

Torren Peraire D., Savin I., and van den Bergh J.(2024) An agent-based model of cultural change for a low-carbon transition, Journal of Artificial Societies and Social Simulation, 27(1):13 link

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Journals 2023

Baumann M.H., Baumann M., and Herb B. (2023) Exchange-Traded Funds, Heterogeneous Agents, and Financial Stability, Indian Journal of Finance and Economies, 4(1):73-120 link

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Basurto A., Dawid H., Harting P., Hepp J., Kohlweyer D. (2023) How to design virus containment polices? A joint analysis of economic and epidemic dynamics under the COVID-19 pandemic, Journal of Economic Interaction and Coordination 18: 311-370 link

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Cantner U., Inoue H., Savin I., Vannucchini S.(2023) Peer effects in productivity and diffrential growth: a global value chain perspective, Industrial and Corporate Change (forthcoming) link

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Dawid H., Keoula P.M., Kopel M., Kort P.M. (2023) Dynamic Investment Strategies and Leadership in Product Innovation, European Journal of Operational Research 306: 431-447 link

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Dawid H., Mitkova M.V., Zaharieva A. (2023) Optimal Promotions of Competing Firms in a Frictional Labour Market with Organizational Hierarchies, Journal of Economics and Management Strategy 32(1): 100-131 link

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Dawid H., Neugart M. (2023) Effects of Technological Change and Automation on Industry Structure and (Wage-)Inequality: Insights from a Dynamic Task-Based Model, Journal of Evolutionary Economics 33: 35-63 link

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Di Guilmi C., Galanis G., Proaño C.R. (2023), A Baseline Model of Behavioral Political Cycles and Macroeconomic Fluctuations, Journal of Economic Behavior & Organization 212, 50 -67 link

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Kotb N. & Proaño C.R. (2023) Capital-Constrained Loan Creation, Household Stock Market Participation and Monetary Policy in a Behavioral New Keynesian Model, International Journal of Finance and Economics 28(4), 3789-3807 link

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Lojak B., Makarewicz T., Proaño, C.R. (2023) Low Interest Rates, Banks' Search for Yield Behavior and Financial Portfolio Management, North American Journal of Economics and Finance 64(Jan.), 101839 link

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Proaño C.R., Peña J.C., Schnellbacher S. (2023), How Does Financial Development Affect the Growth-Inequality Nexus? Evidence from a PCHVAR Analysis. Industrial and Corporate Change 32(2), 474-501 link

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Savin I. (2023) Evolution and recombination of topics in Technological Forecasting and Social Change, Technological Forecasting and Social Change, 194: 122723 link

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Savin I., Creutzig F., Filatova T., Foramitti J., Konc T., Niamir L., Safarzynska K., and van den Bergh J. (2023) agent-based modeling to integrate elements from different disciplines for ambitious climate policy, WIREs Climate Change 14(2): e811 link

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Journals 2022

Alfarano, S., Milakovic, M., Mundt, Ph. (2022) Survival and the Ergodicity of Corporate Profitability, Management Science, Volume 68, Issue 5 link

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Banas L., Dawid H., Randrianasolo T.A., Storn J., Wen X. (2022) Numerical approximation of a system of Hamilton-Jacobi-Bellman equations arising in innovation dynamics, Journal of Scientific Computing 92:54 link

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Baumann, M.H., Baumann, M., Grüne, L., Herz, B. (2022) Market Structure and Instability Artifacts in Heterogeneous Agent Models: Lessons from Implicit Discretizations of Stiff Equations. Comput Econ (2022) link

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Dawid H., Gezer S. (2022) Markov perfect equilibria in multi-mode differential games with endogenous timing of mode transitions, Dynamic Games and Applications 12: 363-393 link

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Dawid H., Hepp J. (2022) Distributional Effects of Technological Regime Changes: Hysteresis, Concentration and Inequality Dynamics, Review of Evolutionary Political Economy 3: 137-167 link

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Dawid H., Muehlheusser G. (2022) Smart Products: Liability, INvestments in Product Safety, and the Timing of Market Introduction, Journal of Economic Dynamics and Control 134: 104288 link

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Dieci, R., Gardini, L. and Westerhoff, F. (2022) On the destabilizing nature of capital gains taxes, International Review of Financial Analysis, Vol 83, Article 102258 link

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Forbes, S., Grosskinsky, S. (2022) A Study of UK Household Wealth through Empirical Analysis and a Non-linear Kesten Process, PLoS ONE 17(8): e027286 (2022) link

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Gardini, L, Radi, D., Schmitt, N., Sushko, I. and Westerhoff, F. (2022): Causes of fragile stock market stability, Journal of Economic Behavior and Organization, Vol. 200, 483-498 link

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Konc, T., Drews, S., Savin, I. and van den Bergh, J. (2022): Co-dynamics of climate policy stringency and public support, Global Environmental Change 74:102528 link

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Martin, C., Schmitt, N. and Westerhoff, F. (2022): Housing markets, expectations formation and interest rates, Macroeconomic Dynamics, Vol. 26, 491-532 link

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Neuner, M., Proaño, C.R., and Russo, A. (2022) Countercyclical Capital Buffers, Bank Concentration and Macrofinancial Stability in an Agent-Based Macro-Financial Framework. Advances in Complex Systems, 25(2-3), 2240001 link

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Proaño, C.R., Peña, J.C., and Saalfeld, T. (2022), Inequality, Macroeconomic Performance and Political Polarization: A Panel Analysis of 20 Advanced Democracies. Review of Social Economy link

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Savin, I. and Mundt, Ph. (2022) Drivers of productivity change in global value chains: Reallocation vs. innovation, Economic Letters, 220: 110878, 2022 link

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Savin, I., Chukavina K., Pushkarev A. (2022): Topic-based classification and identification of global trends for startup companies, Small Business Economics, forthcoming link

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Savin, I., Drews, S., van den Bergh, S. and Villamayor, S. (2022): Public expectations about the impact of COVID-19 on climate action by citizens and government, PLOS One 17 (6), e0266979 link

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Savin, I., Ott, I. and Konop, C. (2022): Tracing the evolution of service robotics: Insights from a topic modeling approach, Technological Forecasting and Social Change 174: 121280 link

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Savin, I. and Teplyakov, N. (2022): Topics of the nationwide phone-ins with Vladimir Putin and their role for public support and Russian economy, Information Processing & Management 59(5):103043 link

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Savin, I. and Teplyakov, N. (2022): Insights on main research directions in Economy of Regions using methods from computational linguistics, Economy of Regions 18(2):338-352 link

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Schmitt, N. and Westerhoff, F. (2022): Speculative housing markets and rent control: insights from nonlinear economic dynamics, Journal of Economic Interaction and Coordination, Vol. 17, 141-163 link

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Dieci, R., Mignot, S. and Westerhoff, F. (2022): Production delays, technology choice and cyclical cobweb dynamics. Chaos, Solitons and Fractals, Vol. 156, Article 111796 link

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Journals 2021

Dawid H., Pellegrino G., Vivarelli M. (2021) The role of demand in fostering product vs process innovation: a model and an empirical test, Journal of Evolutionary Economics 31: 1553-1572 link

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Foramitti, J., Savin, I. and van den Bergh, J. (2021): Regulation at the source? Comparing upstream and downstream climate policies, Technological Forecasting and Social Change 172:121060 link

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Foramitti, J., Savin, I. and van den Bergh, J. (2021): Emission tax vs. permit trading under bounded rationality and dynamic markets, Energy Policy 148(B):112009 link

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Gardini, L., Schmitt, N., Sushko, I., Tramontana, F. and Westerhoff, F. (2021): Necessary and sufficient conditions for the roots of a cubic polynomial and bifurcations of codimension-1, -2, -3 for 3D maps, Journal of Difference Equations and Applications, Vol. 27, 557-578 link

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Konc, T., Savin, I. and van den Bergh, J. (2021): The social multiplier of environmental policy: application to carbon taxation, Journal of Environmental Economics and Management, 105:102396 link

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Martin, C., Schmitt, N. and Westerhoff, F. (2021): Heterogeneous expectations, housing bubbles and tax policy, Journal of Economic Behavior and Organization, Vol. 183, 555 - 573

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Mignot, S., Tramontana, F. and Westerhoff, F. (2021): Speculative asset price dynamics and wealth taxes, Decisions in Economics and Finance, Vol. 44, 641-667 link

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Mundt, Ph. (2021) The formation of input-output architecture: Evidence from the European Union, Journal of Economic Behavior and Organization, Volume 183 link

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Panchuk, A. and Westerhoff, F. (2021): Speculative behavior and chaotic asset price dynamics: on the emergence of a bandcount accretion bifurcation structure, Discrete and Continuous Dynamical Systems Series B, Vol. 26, 5941-5964 link

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Proaño, C.R., and Lojak, B. (2021), Monetary Policy with a State-Dependent Inflation Target in a Behavioral Two-Country Monetary Union Model, Journal of Economic Dynamics and Control 133, 104236, Dec. link

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Savin, I. (2021): On optimal regimes of knowledge exchange: A model of recombinant growth and firm networks, Journal of Economic Interaction and Coordination 16(3): 497-527 link

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Savin, I., Drews, S. and van den Bergh, J. (2021): Free associations of citizens and scientists with (green) economic growth: A computational linguistics analysis, Ecological Economics, 180: 106878 link

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Savin, I., Drews, S. and van den Bergh, J. (2021): GEM: A short “Growth-vs-Environment" Module for survey research, Ecological Economics 187: 107092 link

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Savin, I. and van den Bergh, J. (2021): Main topics in EIST during its first decade: A computational-linguistic analysis, Environmental Innovation and Societal Transition, 41:10-17 link

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Schmitt, N., Schwartz, I. and Westerhoff, F. (2021): Heterogeneous speculators and stock market dynamics: a simple agent-based computational model, The European Journal of Finance, in press link

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Schmitt, N. and Westerhoff, F. (2021): Pricking asset market bubbles, Finance Research Letters, 38, 101441 link

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Schmitt, N. and Westerhoff, F. (2021): Trend followers, contrarians and fundamentalistes: explaining the dynamics of financial markets, Journal of Economic Behavior and Organization, Vol. 192, 117-136 link

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Journals 2020

Blueschke D., I. Savin and V. Blueschke-Nikolaeva, An evolutionary approach to passive learning in optimal control problems, Computational Economics, forthcoming link

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Castro J., Drews S., Exadaktylos F., Foramitti J., Klein F., Konc T., Savin I. and van den Bergh J., A Review of Agent-based Modelling of Climate-Energy Policy, WIREs Climate Change, forthcoming link

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Dawid H., Hellmann, T. (2020) R&D Investments Under Endogenous Cluster Formation, Journal of Economic Behavior and Organization 174: 253-283 link

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Dawid H., Kopel M., Kort P.M. (2020) Product innovation with partial capacity rollover, Central European Journal of Operations Research 28(2): 479-496 link

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Dawid H., Hanaki N., Tuinstra J. (2020) Introduction for the special issue on "Experimental and behavioral analyses in macroeconomics and finance", Journal of Economic Dynamics & Control 110(Sl):103806> link

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Dräger, L. and Proaño, C.R. (2020) Cross-Border Banking and Macroprudential Policies in Asymmetric Currency Unions. Macroeconomic Dynamics, 24(2), 255-290 link

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Lines, M., Schmitt, N. and Westerhoff, F. (2020): Stability conditions for three-dimensional maps and their associated bifurcation types, Applied Economics Letters, Vol. 27, 1056-1060 link

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Mateane, L. and Proaño, C.R. (2020), Does Monetary Policy React Asymmetrically to Exchange Rate Misalignments? Evidence for South Africa, Empirical Economics, 58(4), 1639-1658 link

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Mundt, Ph., Alfarano, S. Milakovic, M. (2020) Exploiting Ergodicity in Forecasts of Corporate Profitability, Journal of Economic Dynamics and Control, Volume 111 link

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Proaño, C.R. and Lojak, B. (2020) Animal Spirits, Risk Premia and Monetary Policy at the Zero Lower Bound, Journal of Economic Behavior and Organization, 171, 221-233 link

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Savin, I., Drews, S., Mestre-Andrés, S. and van den Bergh, J. (2020): Public views on carbon taxation and its fairness: A computational-linguistics analysis, Climatic Change, 162: 2107–2138 link

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Schmitt, N., Tramontana, F. and Westerhoff, F. (2020): Nonlinear asset-price dynamics and stabilization policies, Nonlinear Dynamics, Vol. 102, 1045-1070 link

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Journals 2019

Baumann, Michael, Baumann, Michaela, Erler, A. (2019) Limitations of Stabilizing Effects of Fundamentalists: Facing Positive Feedback Traders, Eonomics E Journal, Nr. 2019-44 link

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Canter, U., Savin, I., Vannuccini, S. (2019) Replicator dynamics in value chains: Explaining some puzzles of market selection, Industrial and Corporate Change, forthcoming link

d'Andria, D. (2019), "Tax Policy and Entrepreneurial Entry with Information Asymmetry and Learning," International Tax and Public Finance (forthcoming) ___________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

d’Andria D. and I. Savin, A Win-Win-Win? Motivating innovation in a knowledge economy with tax incentives, Technological Forecasting and Social Change link

Dawid, H., Harting, P., Neugart, M., Hoog, Sander van der (2019) Macroeconomics with heterogeneous agent models: fostering transparency, reproducibility and replication, Journal of Evolutionary Economics, 29 (1), pp. 467-538, Springer, DOI: 10.1007/s00191-018-0594-0

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Dawid, H., van der Hoog, S. (2019) Bubbles, Crashes and the Financial Cycle: Insights from a Stock-Flow Consisten Agent-Based Macroeconomic Model, Macroeconomics Dynamics, 23, 1205-1246. link

Dawid, H., Huberts, N., Huisman, K., Kort, P. (2019) Entry Deterrence by Timing Rather than Overinvestment in a Statistic Real Options Framework, European Journal of Operational Research, 274, 165 - 185 link

Dawid, H., Harting, Ph., van der Hoog, S. (2019) Manager Remuneration, Share Buybacks and Firm Performance', forthcoming in Industrial and Corporate Change __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Dawid H., Harting P., Neugart M., van der Hoog S. (2019) Macroeconomics with heterogeneous agent models. Fostering transpareny, reproducibility and replication, Journal of Evolutionary Economics 29(1): 467-538 link

Dawid, H. (2019), Potential, Erfolge und Herausforderungen der Agenten-basierten Modellierung in den Wirtschaftswissenschaften, forthcoming in List Forum (in german) __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

D'Orazio, P. (2019). Income inequality, consumer debt, and prudential regulation: An agent-based approach to study the emergence of crises and financial instability. Economic Modelling link

Franke, R. and Westerhoff, F. (2019) Different Compositions of Animal Spirits and Their Impact on Macroeconomic Stability. Economic Modelling, Vol. 76, 117-127 link

Huberts N., Dawid H., Kort P.M., Huisman K. (2019) Entry Deterrence by Timing Rather thank Overinvestment in a Stratigic Real Options Framework, European Journal of Operational Research 274(1): 165-185 link

Konc T. and I. Savin, Social reinforcement with weighted interactions, Physical Review E 100: 022305 link

Martin, C. and Westerhoff, F. (2019) Regulation speculative housing markets via public housing construction programs: Insights from a heterogeneous agent model. Jahrbücher für Nationalökonomie und Statistik (Journal of Economics and Statistics), in press. __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Mundt, Ph., Oh, I.(2019) Asymmetric Competition, risk, and return distribution, Economic Letters, volume 179, 29 - 32 link

Schmitt, N. and Westerhoff, F. (2019) Short-run momentum, long-run mean reversion and excess volatility: an elementary housing model. Economics Letters, Vol. 176, 43-46 link

Strohsal, T., Proaño, C.R., and Wolters, J. (2019) Characterizing the Financial Cycle: Evidence from the Frequency Domain. Journal of Banking and Finance, 106, 568-591, Sep. link

van den Bergh J., I. Savin and S. Drews, Evolution of opinions in the growth-vs-environment debate: Extended replicator dynamics, Futures 109:84-100 link

van den Bergh, J., Drews, S., Savin. I. (2019) Opinion dynamics in the growth-vs-environment debate, Futures, forthcoming link

Journals 2018

Blaurock, I., Schmitt, N. and Westerhoff, F. (2018): Market entry waves and volatility outbursts in stock markets. Journal of Economic Behavior and Organization link

Dawid, H., Harting, P., Neugart, M. (2018) Fiscal transfers and regional economic growth, Review of International Economics 26, 651-671 link

Dawid, H., Harting, P., Neugart, M. (2018) Cohesion Policy and Inequality Dynamics: Insights from a Heterogeneous Atents Macroeconomic Model, Journal of Economic Behaviour and Organization 150, 220-255 link

Dieci, R., Schmitt, N. and Westerhoff, F. (2018) Steady states, stability and bifurcations in multi-asset market models. Decisions in Economics and Finance, Vol. 41, 357-378 link

Dieci, R., Schmitt, N. and Westerhoff, F. (2018) Interactions between stock, bond and housing markets. Journal of Economic Dynamics and Control, Vol. 91, 43-70 link

D’Orazio, P., & Valente, M. (2018). The role of finance in environmental innovation diffusion: an evolutionary modeling approach. Journal of Economic Behavior & Organization link

Korzinov, V., Savin, I. (2018) General Purpose Technologies as an Emergent Property, Technological Forecasting and Social Change 129: 88-104 link

Panchuk, A., Sushko, I. and Westerhoff, F. (2018) A financial market model with two discontinuities: bifurcation structures in the chaotic domain. Chaos, Vol. 28, Article 055908 link

Schmitt, N., Tuinstra, J. and Westerhoff, F. (2018): Stability and welfare effects of profit taxes within an evolutionary market interaction model. Review of International Economics, Vol. 26, 691-708 link

Schmitt, N. and Westerhoff, F. (2018): Evolutionary competition and profit taxes: market stability versus tax burden. Macroeconomic Dynamics, Vol. 22, 2007-2031 link

Strohsal, T., Proaño, C.R., and Wolters, J. (2018) Assessing the Cross-Country Interaction of Financial Cycles: Evidence from a Multivariate Spectral Analysis of the US and the UK. Empirical Economics, 57(2), 385-398 link

van der Hoog, S. (2018). The Limits to Credit Growth: Mitigation Policies and Macroprudential Regulations to Foster Macrofinancial Stability and Sustainable Debt. Computational Economics, 52(3), 873-920 link

Westerhoff, F. and Franke, R. (2018): Agent-based models for economic policy design: two illustrative examples. In: Chen, S.-H., Kaboudan, M. and Du, Y.-R. (eds.) The Oxford Handbook of Computational Economics and Finance. Oxford University Press, Oxford, 520-558 link

Journals 2017

Colombo, L., Dawid, H., Piva, M., Vivarelli, M. (2017) Does Easy Start-Up Formation Hamper Incumbents R&D Investment? Small Business Economics 49(3): 513-531 link

Dawid, H., Harting, P., Neugart, M., van der Hoog, S. (2017) A Heterogeneous Agent Macroeconomic Model for Policy Evaluation: Improving Transparency and Reproducibility, Journal of Evolutionary Economics link

Dawid, H., Zou, B. (2017) 'Foreign Direct Investment with Endogeneous Technology Choice' Pacific Economic Review link

Dawid, H., Decker, R., Herrmann, T., Jahnke, H., Klat, W., König, R., Stummer, C. (2017) 'Management Science in the Era of Smart Consumer Products: Challenges and Research Perspectives' Central European Journal of Operations Research 25(1): 203-230 link

D'Orazio, P. (2017) Big Date and Complexity: Is Macroeconomics Heading Toward a New Paradigm? Journal of Economic Methodology link

Franke, R. and Westerhoff, F. (2017): Taking stock: a rigorous modelling of animal spirits in macroeconomics. Journal of Economic Surveys, Vol. 31, 1152-1182 link

Flaschel, P., Charpe, M., Galanis, G., Proano, C.R., Veneziani, R. (2017), Macroeconomic and Stock Market Interactions with Endogenous Aggregate Sentiment Dynamics, Journal of Economicc Dynamics and Control (forthcoming) link

Herrmann J.K. and I. Savin, Optimal Policy Identification: Insights from the German Electricity Market, Technological Forecasting and Social Change (forthcoming) link

Kato, M., Proaño, C. R., Semmler, W. (2017) Does International Reserves Targeting Decrease the Vulnerability to Capital Flights? Research in International Business and Finance link

Menden, C. & C.R. Proaño (2017) Dissecting the Financial Cycle with Dynamic Factor Models. Quantitative Finance link

Proaño, C. R. (2017), Detecting and Predicting Economic Accelerations, Recessions, and Normal Growth Periods in Real-Time. Journal of Forecasting, 36(1), 26-42 link

Schmitt, N., Tuinstra, J., and Westerhoff, F. (2017) Stability and Welfare Effects of Profit Taxes within an Evolutuionary Market Interaction Model, Review of International Economics (in press) link

Schmitt, N., Tuinstra, J. and Westerhoff, F. (2017) Market interactions, endogenous dynamics and stabilization policies. In: Commendatore, P., Kubin, I., Bougheas, S., Kirman, A., Kopel, M., and Bischi, G.I (eds.) The Economy as a Complex Spatial System. Springer, Berlin, 137-152. link

Schmitt, N., Tuinstra, J. and Westerhoff, F. (2017): Side effects of nonlinear profit taxes in a behavioral market entry model: abrupt changes, coexisting attractors and hysteresis problems. Journal of Economic Behavior and Organization, Vol. 135, 15-38. link

Schmitt, N. and Westerhoff, F. (2017): On the bimodality of the distribution of the S&P 500's distortion: empirical evidence and theoretical explanations. Journal of Economic Dynamics and Control, Vol. 80, 34-53 link

Schmitt, N. and Westerhoff, F. (2017): Herding behaviour and volatility clustering in financial markets. Quantitative Finance, Vol. 17, 1187-1203 link

Strohsal, Proano, C.R., Wolters, J. (2017) Assessing the Cross-Country Interaction of Financial Cycles: Evidence from a Multivariate Spectral Analysis of the US and the UK. Empirical Economics, forthcoming. link

Journals 2016

Akyol, M.(2016) Do educational vouchers reduce inequality and inefficiency in education?, Economics of Education Review, 55, 149-167 link

Bask, M. & C. R. Proaño (2016), Optimal Monetary Policy under Learning and Structural Uncertainty in a New Keynesian Model with a Cost Channel and Inflation Inertia. Journal of Economic Dynamics and Control 69, 112-126, Aug. link

Colombo, L. u. Dawid, H. (2016) 'Complementary Assets, Start-Ups and Incentives to Innovate', International Journal of Industrial Organization 44, 177-190 link

Dawid, H., Decker, R., Hermann, T., Jahnke, H., Klat W., König, R., Stummer C. (2016) 'Management Science in the Era of Smart Consumer Products: Challenges and Research Perspectives', Central European Journal of Operations Research (accepted) link

Dieci, R. and Westerhoff, F. (2016): Heterogeneous expectations, boom-bust housing cycles, and supply conditions: a nonlinear dynamics approach. Journal of Economic Dynamics and Control, Vol. 71, 21-44 link

Franke, R. and Westerhoff, F. (2016): Why a simple herding model may generate the stylized facts of daily returns: explanation and estimation. Journal of Economic Interaction and Coordination, Vol. 11, 1-34 link

Mandes, A. and Winker, P. (2016) 'Complexity and model comparison in agent based modeling of financial markets', Journal of Economic Interaction and Coordination. DOI 10.1007/s11403-016-0173-0 link

Mundt, P., Milakovic, M. and Alfarano, S. (2016): Gibrat’s Law Redux - Think Profitability Instead of Growth, Industrial and Corporate Change 25(4): 549-571 link

Savin, I., Egbetokun, A., Emergence of innovation networks from R&D cooperation with endogenous absorptive capacity, Journal of Economic Dynamics and Control, 64, p. 82 - 103 link

Schmitt, N. and Westerhoff, F. (2016): Evolutionary competition and profit taxes: market stability versus tax burden. Macroeconomic Dynamics (in press) link

Schmitt, N. and Westerhoff, F. (2016): Stock market participation and endogenous boom-bust dynamics. Economics Letters, Vol. 148, 72-75 link

Tramontana, F. and Westerhoff, F. (2016): Piecewise-linear maps and their application to financial markets. Frontiers in Applied Mathematics and Statistics, Vo. 2, Article 10. link

Journals 2015

Akyol, M., Neugart, M., and Pichler, S. (2015) 'A tradable employment quota' Labour Economics, 36, 48-63 link

Charpe, M., Flaschel, P., Krolzig, H.-M. Proaño, C. R., Semmler, W. & D. Tavani (2015), Credit-Driven Investment, Labor Market Heterogeneity and Macroeconomic Dynamics, Journal of Economic Interaction and Coordination, 10(1), 163-181 link

Dawid, H. and Muehlheusser, G. (2015) 'Repeated Selection with Heterogenous Individuals and Relative Age Effects', Journal of Economic Behavior and Organization, 116, 387-406. link

Dawid, H., Keoula, M., Kopel, M., and Kort, P.M. (2015) 'Product Innovation Incentives by an Incumbent Firm: A Dynamic Analysis', Journal of Economic Behavior and Organization, 117, 411-438.link

Fischer, Th. Market Structure and Rating Strategies in Credit Rating Markets – A Dynamic Model with Matching of Heterogeneous Bond Issuers and Rating Agencies, Journal of Banking and Finance, 58(0), p. 39-56 link

Flaschel, P., Hartmann, F., Malikane, C. & C.R. Proaño (2015), A Behavioral Macroeconomic Model of Exchange Rate Fluctuations with Complex Market Expectations Formation. Computational Economics, 45(4), 669-691, Apr. link

Fricke, D. and Lux, Th. (2015) Core-Periphery Structure in the Overnight Money Market: Evidence from the e-MID Trading Platform, Computational Economics 45, 2015, 359-395 link

Livan, G., Alfarano, S., Milakovic, M. and Scalas, E. (2015): A spectral perspective on excess volatility, Applied Economics Letters 22(9) link

Lux, Th. (2015) Emerge of a Core-Periphery Structure in a Simple Dynamic Model of the Interbank Market, Journal of Economic Dynamics and Control 52, 2015, A11-A23 link

Mandes, A.(2015) Microstructure-based order placement in a continuous double auction agent based model, Algorithmic Finance 4:3-4, 105–125. DOI: 10.3233/AF-150049 link

Schmitt, N. and Westerhoff, F. (2015): Managing rational routes to randomness. Journal of Economic Behavior and Organization, Vol. 116, 157-173 link

Sushko, I., Tramontana, F., Westerhoff, F. and Avrutin, V. (2015): Symmetry breaking in a bull and bear financial market model. Chaos, Solitons and Fractals, Vol. 70, 57-72 link

Tramontana, F., Westerhoff, F. and Gardini, L. (2015): A simple financial market model with chartists and fundamentalists: market entry levels and discountinuities. Mathematics and Computers in Simulation, Vol. 108, 16-40. link

Journals 2014

Colombo, L. and Dawid, H. (2014), 'Strategic Location Choice Under Dynamic Oligopolistic Competition and Spillovers', Journal of Economic Dynamics and Control, 48, 288–307. link

Dawid, H. and Gemkow, S. (2014), 'How do social networks contribute to wage inequality? Insights from an agent-based analysis', Industrial and Corporate Change, 23,1171-1200. link

Dawid, H., Harting, P., and Neugart, M. (2014): Economic convergence: Policy implications from a heterogeneous agent model, Journal of Economic Dynamics & Control, 44, 54-80 link

Dawid, H. and Heitmann, D. (2014), 'Best Response Dynamics with Level-n Expectations in Two-Stage Games', Journal of Economic Dynamics and Control, 41, 130-153. link

Dawid, H. and Hellmann, T. (2014), 'The Evolution of R&D Networks', Journal of Economic Behavior and Organization, 105, 158-172. link

Fischer, T. and Riedler, J. (2014): Prices, debt and market structure in an agent-based model of the financial market, Journal of Economic Dynamics and Control, 48, 95-120 link

Franke, R. and Westerhoff, F. (2014): Why a simple herding model may generate the stylized facts of daily returns: explanation and estimation. Journal of Economic Interaction and Coordination, 11, issue 1, 1 - 34 link

Holcombe, M., Coakley, S., Kiran, M., Chin, S., Greenough, C., Worth, D., Cincotti, S., Raberto, M., Teglio, A., Deissenberg, C., van der Hoog, S., Dawid, H., Gemkow, S., Harting, P. and Neugart, M. (2013): Large-Scale Modeling of Economic Systems, Complex Systems, 22, 175-191 link

Liu, R., Lux, Th. (2014): Non-Homogeneous Volatility Correlations in the Bivariate Multifractal Model link

Lux, Th., Morales-Arias, L. and Sattarhoff, C. (2014) Forecasting Daily Variations of Stock Index Returns with a Multifractal Model of Realized Volatility, Journal of Forecasting 7, 2014, 532-541 link

Mundt, P., Förster, N., Alfarano, S., Milakovic, M. (2014): The real versus the financial economy: a global tale of stability versus volatility, E-conomics: The Open-Access, Open-Assessment E-Journal, 8(2014-17) link

Proaño, C. R., Schoder, C.& W. Semmler (2014), Financial Stress, Sovereign Debt and Economic Activity in Industrialized Countries: Evidence from Dynamic Threshold Regressions. Journal of International Money and Finance 45, 17-37 link

Proaño, C. R. & T. Theobald (2014), Predicting German Recessions with a Composite Real-Time Dynamic Probit Indicator. International Journal of Forecasting 30, 898-917 link

Schmitt, N. and Westerhoff, F. (2014): Speculative behavior and the dynamics of interacting stock markets. Journal of Economic Dynamics and Control, Vol. 45, 262-288 link

Tramontana, F., Westerhoff, F. and Gardini, L. (2014): A simple financial market model with chartists and fundamentalists: market entry levels and discontinuities. Mathematics and Computers in Simulation, in press link

Tramontana, F., Westerhoff, F. and Gardini, L. (2014): One-dimensional maps with two discontinuity points and three linear branches: mathematical lessons for understanding the dynamics of financial markets. Decisions in Economics and Finance, Vol. 37, 27-51 link

Journals 2013

Alfarano, S., Milakovic, M., Raddant, M. (2013): A note on institutional hierarchy and volatility in financial markets, The European Journal of Finance, 19(6), pp. 449-465 link

Dawid, H., Kopel, M and Kort, P.M. (2013), 'R&D Competition versus R&D Cooperation in Oligoplistic Markets with Evolving Structure', International Journal of Industrial Organization 31(31): 527-537 link

Dawid H., Kopel M., Kort P.M. (2013) New Product introduction and Capacity Investment by Incumbents: Effects of Size on Strategy, European Journal of Operational Research 230(1): 133-142 link

Dieci, R. and Westerhoff, F. (2013): On the inherent instability of international financial markets: natural nonlinear interactions between stock and foreign exchange markets. Applied Mathematics and Computation, Vol. 221, 306-328 link

Fischer, T. (2012): News Reaction in Financial Markets within a Behavioral Finance Model with Heterogeneous Agents, Algorithmic Finance 1(2), 123-139 link

Lux, Th. and Morales-Arias, L. (2013) Relative Forecasting Performance of Volatility Models: Monte Carlo Evidence, Quantitative Finance 13, 2013, 1375-1394 link

Milakovic, M., Alfarano, S. and Lux, T. (2013): The small core of the German corporate board network: new evidence from 2010, Complexity Economics, 2(1), pp. 7-21, 2013 link

Proaño, C. R. (2013), Monetary Policy Rules and Macroeconomic Stabilization in Small Open Economies under Behavioral FX Trading: Insights from Numerical Simulations. The Manchester School 81(6), 992-1011, Dec. link

Schoder, C., Proaño, C. R. & W. Semmler (2013), Are the current account imbalances in EMU countries sustainable? Evidence from parametric and non-parametric tests. Journal of Applied Econometrics 28(7), 1179-1204, Nov.-Dec. link

Tramontana, F., Westerhoff, F. and Gardini, L. (2013): The bull and bear market model of Huang and Day: Some extensions and new results. Journal of Economic Dynamics and Control, Vol. 37, 2351-2370 link

Wolf S., Bouchaud J.-P., Cecconi F., Cincotti S., Dawid H., Gintis H., van der Hoog S., Jaeger C.C., Kovalevsky D.V., Mandel A., Paroussos L. (2013), Describing economic agent-based models - Dahlem ABM documentation guidelines, Complexity Economics 2(1): 63-74 link

Book Chapters 2021

Dawid, H., Harting, Ph., Neugart, M. (2021) The Role of (De-)Centralized Wage Setting for Industry Dynamics and Economic Growth: An Agent-Based Analysis with the Eurace@UnibiModel, Dynamic Analysis in Complex Economic Environments Essays in Honor of Christophe Deissenberg, pp. 205-230, Springer International Publishing, ISBN 978-3-030-42969-7, link

Book Chapters 2018

Dawid, H. and D. Delli Gatti (2018), Agent-based Macroeconomics, in Hommes, C. and Lebaron, B. (Eds.) Handbook of Computational Economics, Vol. 4 - Heterogeneous Agent Models, Elsevier, Amsterdam, pp. 63-156 link

Dawid, H., Gemkow, S., Harting, P., von der Hoog, S., Neugart, M. (2018) Agent-based Macroeconomic Modeling and POlicy Analyses: The Eurace@unibi Model, in: The Oxford Handbook of Computational Economics and Finance, edited by Shu-Heng Chen, Mak Kaboudan, and Ye-Rong Du; Oxford University Press, Capter 17, 490-512 link

Dawid, H., Hartl, R.F. and P.M. Kort (2018), 'Dynamic Models of the Firm with Green Energy and Goodwill', in Feichtinger, G., Kovacevic, R. and G. Tragler (Eds.), Control Systems and Mathematical Methods in Economics: Essays in Honor of Vladimir M. Veliov, Springer Lecture Notes in Economics and Mathematical Systems, pp. 279-296 link

Neugart, M. and Richiardi, M. (2018) Agent-based Models of the Labor Market, in: The Oxford Handbook of Computatioal Economics and Finance, edited by Shu-Heng Chen, Mak Kaboudan and Ye-Rong Du, Oxford University Press, Chapter 22, 667-687 link

Book Chapters 2017

Colombo, L. and H. Dawid (2017), A Dynamic Model of Firms Strategic Location Choice, in Commendatore, P., Kubin, I., Bougeas, S., Kirman, A., Kopel, M. and G.I. Bischi (Eds), The Economy as a Complex Spatial System: Macro, Meso and Micro Perspectives, Springer Proceedings in Complexity, pp. 159-177 link

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Book Chapters 2016

Dawid, H.; Hartin, P., vander Hoog, S., Neugart, M.(2016) Public Policy from the Bottom Up Using Agent-Based Modeling: Ehe Eurace@Unibi Model, in: J. Arpe (Hrsg.), To the Man with a Hammer ... Bertelsmann Strifung, Gütersloh, 92-95 ________________________________________________________________________________________________________________________________________________________________________________________

Book Chapters 2015

Ausloos, M., Dawid, H. and U. Merlone (2015), 'Spatial interactions in agent-based modeling', in P. Commendatore, S.S. Kayam and I. Kubin (Eds.), Complexity and Geographical Economics: Topics and Tools, Springer, pp. 353-377 link

Dawid, H. (2015), 'Modeling the Economy as a Complex System', in B. Alves Furtado, P.A.M. Sakowski, M.H. Tovolli (Eds.), Modeling Complex Systems for Public Policies, IPEA, Brasilia, pp. 191-216.link

Klabunde, A. (2015): Computational Economic Modeling of Migration, in: Shu-Heng Chen and Mak Kaboudan (editors): Oxford University Press Handbook on Computational Economics and Finance. Oxford University Press (forthcoming). __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Book Chapters 2014

Dawid, H., Gemkow, S., Harting, P., van der Hoog, S. and Neugart, M. (2014), 'Agent-Based Macroeconomic Modeling and Policy Analysis: The Eurace@Unibi Model', Bielefeld University Working Papers in Economics and Management No. 01-2014, forthcoming in Chen, S-H. and Kaboudan, M. (Eds.), Handbook on Computational Economics and Finance, Oxford University Press. link

Roos, M. und Klabunde, A. (2014): Trust in a Network of Investors and Startup Entrepreneurs, in: Artifcial Economics and Self Organization, Springer International Publishing, 147-159. link

Westerhoff, F. and Franke, R. (2014): Agent-based models for policy analysis: two illustrative examples. In: Chen, S.-H., Kaboudan, M. and Du, Y.-R. (eds.): OUP Handbook on Computational Economics and Finance. Oxford University Press, Oxford, in press link

Book Chapters 2013

Dieci, R. and Westerhoff, F. (2013): Modeling house price dynamics with heterogeneous speculators. In: Bischi, G.I., Chiarella, C. and Sushko, I. (eds): Global Dynamics in Economics and Finance. Essays in Honour of Laura Gardini. Springer, Berlin, 35-61 link

Fischer, T. (2013): Inequality and Financial Markets: A Simulation Approach in a Heterogeneous Agent Model, in Teglio, A., Alfarano, S., Camacho-Cuena, E., Gines-Vilar, M. (Eds.): Managing Market Complexity, The Approach of Artificial Economics, Lecture Notes in Economics and Mathematical Systems, Vol. 662, 79-90 link

Tramontana, F. and Westerhoff, F. (2013): One-dimensional discontinuous piecewise-lin ear maps and the dynamics of financial markets. In: Bischi, G.I., Chiarella, C. and Sushko, I. (eds): Global Dynamics in Economics and Finance. Essays in Honour of Laura Gardini. Springer, Berlin, 205-227 link

Working Papers 2024

Working Papers 2023

Dawid H., Di X., Kort P.M., Muelheusser G. (2023) Autonomous vehicles policy and safety investment: an equilibrium analysis with endogenous demand, Universität Bielefeld Working Papers in Economics and Management, 03-2023 link

Dawid H., Ippoliti R., Wen X. (2023) Product Innovation Investment under Bankruptcy Threat, Universität Bielefeld Working Papers in Economics and Management; 04-2023 link

Dawid H., Kohlweyer D., Schleef M., Stummer C (2023) The Role of Uncertainty for Product Announcement Strategies: The Case of Autonomous Vehicles, Center for Uncertainty Studies (CeUS) link

Dawid H., Harting P., Neugart M. (2023) Implications of algorithic wage setting on online labor platforms: a simulation-based analysis, Universität Bielefeld Working Papers in Economics and Management; 02-2023 link

Huberts N.F.D., Wen X., Dawid H., Huismann K.J.M., Kort P.M. (2023) Double Marginalization due to External Financing: Capacity Investment under Uncertainty, Universität Bielefeld Working Papers in Economics and Management; 05-2023 link

Working Papers 2020

Arifovic J., Dawid H., Nanumyan M. (2020) Efficiency Gains through Social Influence in a Minimum Effort Game, Universität Bielefeld Working Papers in Economics and Management; 01-2020 link

Basurto A., Dawid H., Harting P., Hepp J., Kohlweyer D. (2020) Economic and epidemic inplications of virus containment policies: insights from agent-based simulations, Universität Bielefeld Working Papers in Economics and Management; 05-2020 link

Mitkova M.V., Dawid H. (2020) Sectoral Employment Shifts and the Role of R&D: A Cross Country Comparison for Manufacturing and service; 02-2020 link

Working Papers 2019

Colombo L., Dawid H., Harting P. (2019) Universität Bielefeld Working Papers in Economics and Management; 10-2019 link

Hötte, K. (2019) How to Accelerate Green Technology Diffusion? An Agent-Based Approach to Directed Technological Change with Coevolving Absortive Capacity, Bielefeld Working Papers in Economics and Management No. 1-2019 link

Working Papers 2017

Dawid, H., van der Hoog, S.(2017), 'Bubbles, Crashes and the Financial Cycle: Insights from a Stock-Flow Consistent Agent-Based Macroeconomic Model, Bielefeld Working Papers in Economics and Managment No. 01-2015. link

Working Papers 2016

Dawid, H., Hellmann, T.(2016), 'R&D Investments Under Endogeneous Cluster Formation', Bielefeld Working Papers in Economics and Managment No. 04-2016. link

Dawid, H., Harting, Ph., Neugart, M.(2016), 'Fiscal Transfers and Regional Economic Growth', Bielefeld Working Papers in Economics and Managment No. 09-2016. link

Dawid, H., Keoula, M.Y., Kopel, M., Kort, P.(2016), 'Capacity Investment and Product Innovation Leadership', (unpublished)

Dawid, H., Keoula, M.Y., Kort, P.M.(2016), 'Numerical Analysis of Markov-Perfect Equilibria with Multiple Stable Steady States: A Duopoly Application with Innovative Firms', Bielefeld Working Papers in Economics and Managment No. 05-2016. link

Dawid, H., Harting, Ph., van der Hoog, S., Neugart, M.(2016), 'A Heterogneous Agent Macroeconomic Model for Policy Evaluation: Improving Transparency and Reproducibility', Bielefeld Working Papers in Economics and Managment No. 06-2016. link

Working Papers 2015

d’Andria D. and I. Savin (2015) 'Motivating Innovation in a Knowledge Economy with Tax Incentives', Jena Economic Research Papers 2015 – 004 link

Dawid, H. and van der Hoog, S. (2015) 'Bubbles, Crashes, and the Financial Cycle: Insights from a Stock-Flow Consistent Agent-Based Macroeconomic Model' (submitted), Bielefeld Working Papers in Economics and Management No. 01-2015 link

Dawid, H., Huberts, NFD, Huismann, K., Kort, PM (2015) 'Entry Deterrence by Timing Rather than Overinvestment in a Strategic Real Options Framework' Bielefeld Working Papers in Economics and Management, No. 02-2015 link

Mandes, A. and Winker, P. (2015) 'Complexity and Model Comparison in Agent-based Modeling of Financial Markets', MAGKS Discussion Paper Series No. 28-2015 link

Working Papers 2014

Dawid, H., Keoula, M.Y., Kopel, M. and Kort, P.M. (2014), 'Product Innovation Incentives by an Incumbent Firm: A Dynamic Analysis', Bielefeld Working Papers in Economics and Managment No. 11-2014. link

Kallimulina, L. and Schoebel, R. (2014), The J-Curve and Transaction Taxes: Insights from an Artificial Stock Market, forthcoming in Advances in Artificial Economics (Lecture Notes in Economics and Mathematical Systems), eds. F. Amblard et al link ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Klabunde, A. (2014): Computational Economic Modeling of Migration, Ruhr Economic Pap ers 471, February 2014.link

Mandes, A.(2014) Order Placement in a Continuous Double Auction Agent Based Model, MAGKS Discussion Paper Series No. 43-2014 link

Working Papers 2013

Dawid, H., Gemkow, S., Harting, P., van der Hoog, S. and Neugart, M. (2013), 'The Eurace@ Unibi Model: An Agent-Based Macroeconomic Model for Economic Policy Analysis', Working Paper, Bielefeld University. link

Dawid, H., Harting, P. and Neugart, M. (2013), 'Cohesion Policy and Inequality Dynamics: Insights from a Heterogeneous Agents Macroeconomic Model', Bielefeld Working Papers in Economics and Managment No. 26-2013. link

Finger, K., Fricke, D. and Lux, Th. (2013) Network Analysis of the e-MID Overnight Money Market: The informational Value of Diffrent Aggregation Levels for Intrinsic Dynamic Processes, Computational Management Science 10, 2013, 187-211 link

Fischer, T. (2012) Passive Investment Strategies and Financial Bubbles, Darmstadt Discussion Papers in Economics 212 link

Hommes, C. and Lux, Th. (2013) Individual Expectations and Aggregate Behavior in Learning to Forecast Experiments, Macroeconomic Dynamics 17, 2013, 373-401 link

Klabunde, A. (2013) How Much Should an Investor Trust the Startup Entrepreneur? A Network Model, Ruhr Economic Papers 450, November 2013. link

Lux, Th. (2013) Inference for Systems of Stochastic Differential Equations from Discretely Sampled Data: A Numerical Maximum Likelihood Approach, Annals of Finance 9, 2013, 217 - 248 link

Savin I. and A. Egbetokun (2013) Emergence of innovation networks from R&D cooperation with endogenous absorptive capacity, CEB Working Paper N° 13/022 link