Cargando…
Agent-based models in economics: a toolkit
In contrast to mainstream economics, complexity theory conceives the economy as a complex system of heterogeneous interacting agents characterised by limited information and bounded rationality. Agent Based Models (ABMs) are the analytical and computational tools developed by the proponents of this...
Autores principales: | , , , , |
---|---|
Lenguaje: | eng |
Publicado: |
Cambridge University Press
2018
|
Materias: | |
Acceso en línea: | https://dx.doi.org/10.1017/9781108227278 http://cds.cern.ch/record/2310375 |
_version_ | 1780957811174277120 |
---|---|
author | Delli Gatti, Domenico Fagiolo, Giorgio Gallegati, Mauro Richiardi, Matteo Russo, Alberto |
author_facet | Delli Gatti, Domenico Fagiolo, Giorgio Gallegati, Mauro Richiardi, Matteo Russo, Alberto |
author_sort | Delli Gatti, Domenico |
collection | CERN |
description | In contrast to mainstream economics, complexity theory conceives the economy as a complex system of heterogeneous interacting agents characterised by limited information and bounded rationality. Agent Based Models (ABMs) are the analytical and computational tools developed by the proponents of this emerging methodology. Aimed at students and scholars of contemporary economics, this book includes a comprehensive toolkit for agent-based computational economics, now quickly becoming the new way to study evolving economic systems. Leading scholars in the field explain how ABMs can be applied fruitfully to many real-world economic examples and represent a great advancement over mainstream approaches. The essays discuss the methodological bases of agent-based approaches and demonstrate step-by-step how to build, simulate and analyse ABMs and how to validate their outputs empirically using the data. They also present a wide set of applications of these models to key economic topics, including the business cycle, labour markets, and economic growth. |
id | cern-2310375 |
institution | Organización Europea para la Investigación Nuclear |
language | eng |
publishDate | 2018 |
publisher | Cambridge University Press |
record_format | invenio |
spelling | cern-23103752021-04-21T18:52:37Zdoi:10.1017/9781108227278http://cds.cern.ch/record/2310375engDelli Gatti, DomenicoFagiolo, GiorgioGallegati, MauroRichiardi, MatteoRusso, AlbertoAgent-based models in economics: a toolkitMathematical Physics and MathematicsCommerce, Economics, Social ScienceIn contrast to mainstream economics, complexity theory conceives the economy as a complex system of heterogeneous interacting agents characterised by limited information and bounded rationality. Agent Based Models (ABMs) are the analytical and computational tools developed by the proponents of this emerging methodology. Aimed at students and scholars of contemporary economics, this book includes a comprehensive toolkit for agent-based computational economics, now quickly becoming the new way to study evolving economic systems. Leading scholars in the field explain how ABMs can be applied fruitfully to many real-world economic examples and represent a great advancement over mainstream approaches. The essays discuss the methodological bases of agent-based approaches and demonstrate step-by-step how to build, simulate and analyse ABMs and how to validate their outputs empirically using the data. They also present a wide set of applications of these models to key economic topics, including the business cycle, labour markets, and economic growth.Cambridge University Pressoai:cds.cern.ch:23103752018 |
spellingShingle | Mathematical Physics and Mathematics Commerce, Economics, Social Science Delli Gatti, Domenico Fagiolo, Giorgio Gallegati, Mauro Richiardi, Matteo Russo, Alberto Agent-based models in economics: a toolkit |
title | Agent-based models in economics: a toolkit |
title_full | Agent-based models in economics: a toolkit |
title_fullStr | Agent-based models in economics: a toolkit |
title_full_unstemmed | Agent-based models in economics: a toolkit |
title_short | Agent-based models in economics: a toolkit |
title_sort | agent-based models in economics: a toolkit |
topic | Mathematical Physics and Mathematics Commerce, Economics, Social Science |
url | https://dx.doi.org/10.1017/9781108227278 http://cds.cern.ch/record/2310375 |
work_keys_str_mv | AT delligattidomenico agentbasedmodelsineconomicsatoolkit AT fagiologiorgio agentbasedmodelsineconomicsatoolkit AT gallegatimauro agentbasedmodelsineconomicsatoolkit AT richiardimatteo agentbasedmodelsineconomicsatoolkit AT russoalberto agentbasedmodelsineconomicsatoolkit |