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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...

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Detalles Bibliográficos
Autores principales: Delli Gatti, Domenico, Fagiolo, Giorgio, Gallegati, Mauro, Richiardi, Matteo, Russo, Alberto
Lenguaje:eng
Publicado: Cambridge University Press 2018
Materias:
Acceso en línea:https://dx.doi.org/10.1017/9781108227278
http://cds.cern.ch/record/2310375
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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.
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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
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AT russoalberto agentbasedmodelsineconomicsatoolkit