The linkage between financial market and real economy : the analysis with an agent based simulation

Financial markets are driven by the real economy and in turn also has a profound effect on the financial economy. Understanding the feedback between these two sectors leads to a deeper understanding of the stability, robustness and efficiency of the economic system. In this paper, we investigate the effect of credit linkages on the macroeconomic activity by developing an agent-based model, which allows us to explain some key elements occurred during the recent economic and financial crisis. In particular, we study the linkage dependence among agents (firms and banks) at the micro-level and to estimate their impact on the macro activities such as the GDP growth rate, the size and growth rate distributions of agents

Sheet Dependence on Superconducting Gap in Oxygen-Deficient Iron-based Oxypnictide Superconductors NdFeAs0.85

Photoemission spectroscopy with low-energy tunable photons on oxygen-deficient iron-based oxypnictide superconductors NdFeAsO0.85 (Tc=52K) reveals a distinct photon-energy dependence of the electronic structure near the Fermi level (EF). A clear shift of the leading-edge can be observed in the superconducting states with 9.5 eV photons, while a clear Fermi cutoff with little leading-edge shift can be observed with 6.0 eV photons. The results are indicative of the superconducting gap opening not on the hole-like ones around Gamma (0,0) point but on the electron-like sheets around M(pi,pi) point.Comment: 8 pages, 3 figure

Unusual Layer-Dependent Charge Distribution, Collective Mode Coupling, and Superconductivity in Multilayer Cuprate Ba2Ca3Cu4O8F2

Low energy ultrahigh momentum resolution angle resolved photoemission spectroscopy study on four-layer self-doped high T-c superconductor Ba2Ca3Cu4O8F2 (F0234) revealed fine structure in the band dispersion, identifying the unconventional association of hole and electron doping with the inner and outer CuO2 layers, respectively. For the states originating from two inequivalent CuO2 layers, different energy scales are observed in dispersion kinks associated with the collective mode coupling, with the larger energy scale found in the electron (n-) doped state which also has stronger coupling strength. Given the earlier finding that the superconducting gap is substantially larger along the n-type Fermi surface, our observations connect the mode coupling energy and strength with magnitude of the pairing gap

High-resolution photoelectron spectroscopy study of Kondo metals : SmSn3 and Sm0.9La0.1Sn3

We performed a high-resolution photoelectron spectroscopy study on the Kondo metals SmSn3 and Sm0.9La0.1Sn3. The experimental results are compared with calculations of density of state performed within the local density approximation plus the dynamical mean-field theory. The theory is found to reproduce the experimental valence-band spectra well. In both SmSn3 and Sm0.9La0.1Sn3 the bulk Sm valence is nearly trivalent, with a small fraction of divalent component. Resonant photoelectron spectroscopy indicates a decrease in the Kondo effect in the diluted system Sm0.9La0.1Sn3

Advances in Computational Social Science and Social Simulation

Aquesta conferència és la celebració conjunta de la "10th Artificial Economics Conference AE", la "10th Conference of the European Social Simulation Association ESSA" i la "1st Simulating the Past to Understand Human History SPUHH".Conferència organitzada pel Laboratory for Socio­-Historical Dynamics Simulation (LSDS-­UAB) de la Universitat Autònoma de Barcelona.Readers will find results of recent research on computational social science and social simulation economics, management, sociology,and history written by leading experts in the field. SOCIAL SIMULATION (former ESSA) conferences constitute annual events which serve as an international platform for the exchange of ideas and discussion of cutting edge research in the field of social simulations, both from the theoretical as well as applied perspective, and the 2014 edition benefits from the cross-fertilization of three different research communities into one single event. The volume consists of 122 articles, corresponding to most of the contributions to the conferences, in three different formats: short abstracts (presentation of work-in-progress research), posters (presentation of models and results), and full papers (presentation of social simulation research including results and discussion). The compilation is completed with indexing lists to help finding articles by title, author and thematic content. We are convinced that this book will serve interested readers as a useful compendium which presents in a nutshell the most recent advances at the frontiers of computational social sciences and social simulation researc

Evolutionary Dynamics of Heterogeneous Agents with Local Interactions

ABSTRACT There are many researches on emergent properties and collective phenomena. The previous researches have mainly focused on the global interaction or random interactions of homogeneous agents. In this paper, we focus on heterogeneity of agents. And we address the following questions: how do heterogeneous agents generate emergent properties? These questions will depend crucially on how they interact and adapt their behavior. Agents myopically evolve their behavior based on their own rules, which is given as the function of their idiosyncratic utilities or of the action of their neighbors. We show that agents' behaviors reflecting their micromotives combined with of others' behaviors produce orders. The heterogeneity of agents is also concern for investigating emergent behavior. We consider the relation between emerged order and the diversity of the population

Robust Networks to Cascading Failures

Nowadays, the ongoing progress of networking in essential utilities such as the Internet, the WWW, transportation networks, electrical power grid networks, etc., brings significant benefits to the quality of our life. However, networked systems hold a certain danger that a failure of a single node in the system may diffuse to all other nodes. This chain of failure is widely known as cascading failure. Examples of cascading failure include disease epidemics, traffic congestion, electrical power system blackouts, and so on. In these systems, if external shocks or excess loads at some nodes are propagated to other connected nodes due to failure, the domino effects often come with disastrous consequences. Thus, how to prevent cascading failures in complex networks becomes an important emergent issue. In this paper, we consider an overload-based cascading failure model and design a robust network structure against this type of cascading failure. Numerical simulations show that the proposed network, which consists of a complete cluster of connected hub nodes, and periphery nodes connecting one of hub nodes in the cluster, is least susceptible to cascading failures compared with other types of networks