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The ‘implicit microfoundations’ approach considers this property of\r micro-level interactions to more strongly determine macro-level outcomes compared to\r the precise details of individual choice behavior; that is, the ‘particle’ nature of\r individuals dominates their ‘mechanical’ nature. So rather than taking an ‘explicit\r microfoundations’ approach, in which individuals are represented as ‘white-box’\r sources of fully-specified optimizing behavior (‘rational agents’), we instea\nd represent\r individuals as ‘black box’ sources of unpredictable noise subject to objective\r constraints (‘zero-intelligence agents’). To illustrate the potential of the approach we\r examine a parsimonious, agent-based macroeconomic model with implicit\r microfoundations. It generates many of the reported empirical distributions of capitalist\r economies, including the distribution of income, firm sizes, firm growth, GDP and\r recessions."},"dsDescriptionDate":{"typeName":"dsDescriptionDate","multiple":false,"typeClass":"primitive","value":"2009"}}]},{"typeName":"keyword","multiple":true,"typeClass":"compound","value":[{"keywordValue":{"typeName":"keywordValue","multiple":false,"typeClass":"primitive","value":"Microfoundations"}},{"keywordValue":{"typeName":"keywordValue","multiple":false,"typeClass":"primitive","value":"Macroeconomics"}},{"keywordValue":{"typeName":"keywordValue","multiple":false,"typeClass":"primitive","value":"Aggregation"}},{"keywordValue":{"typeName":"keywordValue","multiple":false,"typeClass":"primitive","value":"Power laws"}}]},{"typeName":"topicClassification","multiple":true,"typeClass":"compound","value":[{"topicClassValue":{"typeName":"topicClassValue","multiple":false,"typeClass":"primitive","value":"A12"},"topicClassVocab":{"typeName":"topicClassVocab","multiple":false,"typeClass":"primitive","value":"JEL"}},{"topicClassValue":{"typeName":"topicClassValue","multiple":false,"typeClass":"primitive","value":"B41"},"topicClassVocab":{"typeName":"topicClassVocab","multiple":false,"typeClass":"primitive","value":"JEL"}},{"topicClassValue":{"typeName":"topicClassValue","multiple":false,"typeClass":"primitive","value":"C63"},"topicClassVocab":{"typeName":"topicClassVocab","multiple":false,"typeClass":"primitive","value":"JEL"}},{"topicClassValue":{"typeName":"topicClassValue","multiple":false,"typeClass":"primitive","value":"D50"},"topicClassVocab":{"typeName":"topicClassVocab","multiple":false,"typeClass":"primitive","value":"JEL"}},{"topicClassValue":{"typeName":"topicClassValue","multiple":false,"typeClass":"primitive","value":"E11"},"topicClassVocab":{"typeName":"topicClassVocab","multiple":false,"typeClass":"primitive","value":"JEL"}},{"topicClassValue":{"typeName":"topicClassValue","multiple":false,"typeClass":"primitive","value":"P16"},"topicClassVocab":{"typeName":"topicClassVocab","multiple":false,"typeClass":"primitive","value":"JEL"}}]},{"typeName":"publication","multiple":true,"typeClass":"compound","value":[{"publicationCitation":{"typeName":"publicationCitation","multiple":false,"typeClass":"primitive","value":"Ian Wright (2009). Implicit Microfoundations for Macroeconomics. Economics: The Open-Access, Open-Assessment E-Journal, Vol. 3, 2009-19. <a href=\"http://www.economics-ejournal.org/economics/journalarticles/2009-19\"> http://www.economics-ejournal.org/economics/journalarticles/2009-19</a>"}},{"publicationCitation":{"typeName":"publicationCitation","multiple":false,"typeClass":"primitive","value":"Ian Wright (2009). Implicit Microfoundations for Macroeconomics. Economics: The Open-Access, Open-Assessment E-Journal, Vol. 3, 2009-19. <a href=\"http://www.economics-ejournal.org/economics/journalarticles/2009-19\"> http://www.economics-ejournal.org/economics/journalarticles/2009-19</a>"}},{"publicationCitation":{"typeName":"publicationCitation","multiple":false,"typeClass":"primitive","value":"Ian Wright (2008). Implicit Microfoundations for Macroeconomics. Economics Discussion Papers, No 2008-41. <a href=\"http://www.economics-ejournal.org/economics/discussionpapers/2008-41\"> http://www.economics-ejournal.org/economics/discussionpapers/2008-41 </a>"}}]},{"typeName":"productionDate","multiple":false,"typeClass":"primitive","value":"2009"},{"typeName":"distributor","multiple":true,"typeClass":"compound","value":[{"distributorName":{"typeName":"distributorName","multiple":false,"typeClass":"primitive","value":"Economics: The Open-Access, Open-Assessment E-Journal"},"distributorURL":{"typeName":"distributorURL","multiple":false,"typeClass":"primitive","value":"http://www.economics-ejournal.org"},"distributorLogoURL":{"typeName":"distributorLogoURL","multiple":false,"typeClass":"primitive","value":"http://www.economics-ejournal.org/logo.png"}}]},{"typeName":"distributionDate","multiple":false,"typeClass":"primitive","value":"2009"},{"typeName":"dateOfDeposit","multiple":false,"typeClass":"primitive","value":"2009-10-19"}]},"socialscience":{"displayName":"Social Science and Humanities Metadata","name":"socialscience","fields":[{"typeName":"timeMethod","multiple":false,"typeClass":"primitive","value":"time series"}]}},"files":[{"description":"dataset in nb file (Mathematica)","label":"wright_closedSocialArchitectureModel.nb","restricted":false,"version":1,"datasetVersionId":51593,"categories":["2. 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