Agent-Based Models in Economics

ISBN-13: 9781108400046 / Angielski / Miękka / 2018 / 260 str.

Domenico Delli Gatti; Giorgio Fagiolo; Mauro Gallegati

Opis

The first step-by-step introduction to the methodology of agent-based models in economics, their mathematical and statistical analysis, and real-world applications.

Recenzje

'The authors conceive of economies as complex systems of heterogeneous interacting agents with bounded rationality and limited information, and they view agent-based modeling as a necessary tool for the exploration of such systems. In this book the authors provide a comprehensive introduction to agent-based modeling. Although macroeconomic applications are stressed, the coverage of topics such as rationality, behavior, expectations, and learning will be of value for many other applications as well. A particularly welcome aspect of the book is its attention to historical antecedents and its inclusion of chapters devoted to empirical validation and estimation issues.' Leigh Tesfatsion, Iowa State University

Spis treści

1. Introduction; 2. Agent-based computational economics: what, why, when; 3. Agent-based models as recursive systems; 4. Rationality, behaviour and expectations; 5. Agents' behaviour and learning; 6. Interaction; 7. The agent-based experiment; 8. Empirical validation of agent-based models; 9. Estimation of agent-based models; 10. Epilogue.