Who Creates Housing Bubbles? An Agent-Based Study

This paper develops an agent-based spatial model of the housing market. A house is many families’ biggest asset. It is also widely held by financial institutions, in the form of mortgage-backed securities. As a result, avoiding extreme housing price volat

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Shah Jamal Alam H. Van Dyke Parunak (Eds.)

Multi-Agent-Based Simulation XIV International Workshop, MABS 2013 Saint Paul, MN, USA, May 6–7, 2013 Revised Selected Papers

123

Lecture Notes in Artificial Intelligence Subseries of Lecture Notes in Computer Science LNAI Series Editors Randy Goebel University of Alberta, Edmonton, Canada Yuzuru Tanaka Hokkaido University, Sapporo, Japan Wolfgang Wahlster DFKI and Saarland University, Saarbrücken, Germany

LNAI Founding Series Editor Joerg Siekmann DFKI and Saarland University, Saarbrücken, Germany

For further volumes: http://www.springer.com/series/1244

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Shah Jamal Alam H. Van Dyke Parunak (Eds.) •

Multi-Agent-Based Simulation XIV International Workshop, MABS 2013 Saint Paul, MN, USA, May 6–7, 2013 Revised Selected Papers

123

Editors Shah Jamal Alam School of Geosciences University of Edinburgh Edinburgh UK

ISSN 0302-9743 ISBN 978-3-642-54782-9 DOI 10.1007/978-3-642-54783-6

H. Van Dyke Parunak Soar Technology Ann Arbor, MI USA

ISSN 1611-3349 (electronic) ISBN 978-3-642-54783-6 (eBook)

Springer Heidelberg New York Dordrecht London Library of Congress Control Number: 2014935152 CR Subject Classification (1998): 21017, I21025 LNCS Sublibrary: SL7 – Artificial Intelligence  Springer-Verlag Berlin Heidelberg 2014 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. Exempted from this legal reservation are brief excerpts in connection with reviews or scholarly analysis or material supplied specifically for the purpose of being entered and executed on a computer system, for exclusive use by the purchaser of the work. Duplication of this publication or parts thereof is permitted only under the provisions of the Copyright Law of the Publisher’s location, in its current version, and permission for use must always be obtained from Springer. Permissions for use may be obtained through RightsLink at the Copyright Clearance Center. Violations are liable to prosecution under the respective Copyright Law. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. While the advice and information in this book are believed to be true and accurate at the date of publication, neither the authors nor the editors nor the publisher can accept any legal responsibility for any errors or omissions that may be made. The publisher makes no warranty, express or implied, with respect to the material contained herein. Printed on acid-free paper Springer is par