Hans Amman
University of Amsterdam, Faculty of Economics and Business, Faculty Member
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
ABSTRACT The lack of a clear classification structure and the use of a variety of names for the same solution method for stochastic control models in economics, create communications inefficiencies in the field. A proposal is made for a... more
ABSTRACT The lack of a clear classification structure and the use of a variety of names for the same solution method for stochastic control models in economics, create communications inefficiencies in the field. A proposal is made for a classification system based on a number of attributes of these models including stochastic elements, solution classes, estimation method, forward-looking variables and policies-to-parameters effects. Tables are provided which categorize some well-known example models into this structure. Our work focuses on models with quadratic criterion functions and linear systems equations and without game theory elements. Thus it is a mere start of a larger effort which is much needed since there has been a proliferation of stochastic control models in economics in recent years.
Research Interests:
Research Interests:
no abstract
Research Interests:
ABSTRACT We investigate whether intermediaries can make a profit in an information economy. We use evolutionary agent-based simulations to address this issue. We model a trade network game where boundedly rational consumers have to decide... more
ABSTRACT We investigate whether intermediaries can make a profit in an information economy. We use evolutionary agent-based simulations to address this issue. We model a trade network game where boundedly rational consumers have to decide which links to form to sellers (profit maximizing producers or intermediaries). Our main conclusion is that intermediaries that have better knowledge about the market than the average consumer will continue to exist and make a profit if market dynamics are sufficiently complex.
Research Interests:
ABSTRACT Young economists sometimes ask which computer programming languages they should learn. This paper answers that question by suggesting that they begin with a high level language like GAUSS, GAMS, Mathematica, Maple or MATLAB... more
ABSTRACT Young economists sometimes ask which computer programming languages they should learn. This paper answers that question by suggesting that they begin with a high level language like GAUSS, GAMS, Mathematica, Maple or MATLAB depending on their field of specialization in economics. Then they should work down to one of the low level languages such as Fortran, Basic, C, C++ or Java depending on the planned areas of application. Finally, they should proceed to the languages which are used to develop graphical interfaces and internet applications, viz. Visual Basic, C. C++ or Java. Citation Copyright 1999 by Kluwer Academic Publishers.
Research Interests:
Research Interests:
In this paper we deliver the solution for the DUAL approach Kendrick (1981; 2002) with an infinite horizon. The results of this solutions form the basis for the paper Amman and Tucci (2017).
Research Interests:
Modelling adoption of natural resources management technologies: the case of fallow systemsOption valuation of Philippine forest plantation leasesConsumption pattern, trade, and greenhouse gas leakage in IndiaAn empirical study on... more
Modelling adoption of natural resources management technologies: the case of fallow systemsOption valuation of Philippine forest plantation leasesConsumption pattern, trade, and greenhouse gas leakage in IndiaAn empirical study on effective pollution enforcement in KoreaGovernance, economic policy, and the environmental Kuznets curve for natural tropical forestsLand tenure and conflict resolution: a game theoretic approach in the Narok district in KenyaPolitics of
Research Interests:
In the economics literature, there are two dominant approaches for solving models with optimal experimentation (also called active learning). The first approach is based on the value function and the second on an approximation method. In... more
In the economics literature, there are two dominant approaches for solving models with optimal experimentation (also called active learning). The first approach is based on the value function and the second on an approximation method. In principle the value function approach is the preferred method. However, it suffers from the curse of dimensionality and is only applicable to small problems with a limited number of policy variables. The approximation method allows for a computationally larger class of models, but may produce results that deviate from the optimal solution. Our simulations indicate that when the effects of learning are limited, the differences may be small. However, when there is sufficient scope for learning, the value function solution seems more aggressive in the use of the policy variable.
Research Interests:
IIED is an independent, non-profit organisation which seeks to promote sustainable patterns of world
In times of rapid macroeconomic change it would seem useful for both fiscal and monetary policy to be modified frequently. This is true for monetary policy with monthly meetings of the Open Market Committee. It is not true for fiscal... more
In times of rapid macroeconomic change it would seem useful for both fiscal and monetary policy to be modified frequently. This is true for monetary policy with monthly meetings of the Open Market Committee. It is not true for fiscal policy which mostly varies with the annual Congressional budget cycle. This paper proposes a feedback framework for analyzing the question of whether or not movement from annual to quarterly fiscal policy changes would improve the performance of stabilization policy. More broadly the paper considers a complementary rather than competitive framework in which monetary policy in the form of the Taylor rule is joined by a similar fiscal policy rule. This framework is then used to consider methodological improvements in the Taylor and the fiscal policy rule to include lags, uncertainty in parameters and measurement errors.
In the original papers by Alkemade et al.(2006, 2007), their evolutionary algorithms (EAs) exhibited an extreme degree of premature convergence when they were run according to approach I. This seemed a quite curious result. We are happy... more
In the original papers by Alkemade et al.(2006, 2007), their evolutionary algorithms (EAs) exhibited an extreme degree of premature convergence when they were run according to approach I. This seemed a quite curious result. We are happy that the correction (Alkemade et al. 2008) makes clear that the degree of premature convergence is much lower than originally reported. There are three further comments that we would like to make on the work of Alkemade et al. First, Alkemade etal. state that “convergence behavior differs for ...
Research Interests:
In the original papers by Alkemade et al.(2006, 2007), their evolutionary algorithms (EAs) exhibited an extreme degree of premature convergence when they were run according to approach I. This seemed a quite curious result. We are happy... more
In the original papers by Alkemade et al.(2006, 2007), their evolutionary algorithms (EAs) exhibited an extreme degree of premature convergence when they were run according to approach I. This seemed a quite curious result. We are happy that the correction (Alkemade et al. 2008) makes clear that the degree of premature convergence is much lower than originally reported. There are three further comments that we would like to make on the work of Alkemade et al. First, Alkemade etal. state that “convergence behavior differs for ...
Research Interests:
Research Interests:
In a previous paper Amman et al. (Macroecon Dyn, 2018) compare the two dominant approaches for solving models with optimal experimentation (also called active learning), i.e. the value function and the approximation method. By using the... more
In a previous paper Amman et al. (Macroecon Dyn, 2018) compare the two dominant approaches for solving models with optimal experimentation (also called active learning), i.e. the value function and the approximation method. By using the same model and dataset as in Beck and Wieland (J Econ Dyn Control 26:1359–1377, 2002), they find that the approximation method produces solutions close to those generated by the value function approach and identify some elements of the model specifications which affect the difference between the two solutions. They conclude that differences are small when the effects of learning are limited. However the dataset used in the experiment describes a situation where the controller is dealing with a nonstationary process and there is no penalty on the control. The goal of this paper is to see if their conclusions hold in the more commonly studied case of a controller facing a stationary process and a positive penalty on the control.
Research Interests:
Research Interests:
Research Interests: Applied Mathematics, Optimal Control, Policy Design, Kalman Filter, Learning Environment, and 7 moreStochastic Optimization, Optimization Theory, Rational Expectation, Numerical Analysis and Computational Mathematics, Covariance Matrix, Electrical And Electronic Engineering, and Quadratic Optimization
Research Interests:
Research Interests:
Research Interests:
... HM Amman and DA Kendrick, An user's guide for DUAL: A program for quadratic-linear stochastic control problems, Technical Paper 90-4, Center of Economics Research ... HM Amman and DA Kendrick, Solving stochastic optimization... more
... HM Amman and DA Kendrick, An user's guide for DUAL: A program for quadratic-linear stochastic control problems, Technical Paper 90-4, Center of Economics Research ... HM Amman and DA Kendrick, Solving stochastic optimization models with learning and rational ...
Research Interests:
ABSTRACT With existing technology, it is already possible for personal agents to schedule meetings for their users, to write the small print of an agreement, and for agents to search the Internet for the cheapest price. But serious... more
ABSTRACT With existing technology, it is already possible for personal agents to schedule meetings for their users, to write the small print of an agreement, and for agents to search the Internet for the cheapest price. But serious negotiation cranks ...