Engineering Commons^™

Distributed Economic Systems With Agents That Learn, Stanley Foster Perry

Dissertations and Theses

Economic systems are distributed in the sense that economic agents make decisions without any central control. Prices, quantities, wealth, and market structure emerge from the interaction of agents acting in their own self interest. The concepts and language of systems science are used to define economic systems in a manner that captures and articulates the distributed nature of economic systems. Further, the systems definition permits multiple views of the economic system, and in addition, allows the agents to "step outside" the system in order to study it.

Economic systems are defined in such a way that it is feasible to …