Understanding the mechanism of a socio-economic system requires more than an understanding of the individuals that comprise the system. It also requires understanding how individuals interact with each other, and how the agg- gated outcome can be more than the sum of individual behaviors. This book contains the papers fostering the formation of an active multi-disciplinary community on socio-economic systems with the exciting new ?elds of age- based modeling and econophysics. We especially intend to increase the awareness of researchers in many ?elds with sharing the common view many economic and social activities as collectives of a large-scale heterogeneous and interacting agents. Economists seek to understand not only how individuals behave but also how the interaction of many individuals leads to complex outcomes. Age- based modeling is a method for studying socio-economic systems exhibiting the following two properties: (1) the system is composed of interacting agents, and (2) the system exhibits emergent properties, that is, properties arising from the interactions of the agents that cannot be deduced simply by agg- gating the properties of the system's components. When the interaction of the agents is contingent on past experience, and especially when the agents continually adapt to that experience, mathematical analysis is typically very limited in its ability to derive the outcome.

"This book contains high-quality multi-disciplinary research contributions addressing theoretical and computational aspects of interaction and coordination of economic agents. It focuses on emergent phenomena and collective behavior in economic activities as well as on the development of analytical and computational tools in models with heterogeneous agents. The contributions are not restricted to any particular school of thought, but are based on rigorous theoretical models and supported by experimental validation. TOC:Econophysics.- Complex Economic Network.- Economic Dynamics.- Agent-Based Modeling.- Auction and Two-Sided Matching.- Minority Games and Collective Intelligence.- Game-Theoretic Approach."

Econophysics.- Five Years of Continuous-time Random Walks in Econophysics.- Why Macroeconomic Price Indices are Sluggish in Large Economies ?.- Growth Volatility Indices.- Financial Fragility and Scaling Distributions in the Laboratory.- Complex Economic Network.- Heterogeneous Economic Networks.- The Emergence of Paradigm Setters Through Firms' Interaction and Network Formation.- Economic Dynamics.- Statistical Properties of a Heterogeneous Asset Pricing Model with Time-varying Second Moment.- Deflationary Recessions in a General Equilibrium Framework.- Concepts of Thermodynamics in Economic Growth.- Firm Dynamics Simulation Using Game-theoretic Stochastic Agents.- Agent-based Modeling.- A Functional Modularity Approach to Agent-based Modeling of the Evolution of Technology.- Herding Without Following the Herd: The Dynamics of Case-Based Decisions with Local Interactions.- Cultural Evolution in a Population of Heterogeneous Agents.- Auction and Two-sided Matching.- Simulating Auctions.- Counterclockwise Behavior Around the Beveridge Curve.- The Waiting-Time Distribution of Trading Activity in a Double Auction Artificial Financial Market.- Minority Games and Collectie Intelligence.- Theoretical Analysis of Local Information Transmission in Competitive Populations.- Analysis of Complexity and Time Restriction in Resources Allocation Problems.- How Does Collective Intelligence Emerge in the Standard Minority Game?.- Game-theoretic Approach.- What Information Theory Says About Bounded Rational Best Response.- Evolution of Reciprocal Cooperation in the Avatamsaka Game.- Game Representation - Code Form.- Effect of Mutual Choice Metanorm in Group Dynamics for Solving Social Dilemmas.