Introduction to agent-based economics -- Decentralized interacting macroeconomics and the agent-based "modellaccio" -- AD-AS representation of macroeconomic emergent properties -- Heterogeneity in macroeconomics: DSGE and agent-based model approach -- Early warning indicator for crises in an agent-based macromodel -- Expectation models in agent-based computational economics -- Experimental economics for ABM validation -- Econometric methods for agent-based models -- Modeling for joint distribution of income and consumption in Italy -- Network economy: a survey on the effect of interaction in credit markets.
Summary:
Introduction to Agent-Based Economics describes the principal elements of agent-based computational economics (ACE). It illustrates ACE's theoretical foundations, which are rooted in the application of the concept of complexity to the social sciences, and it depicts its growth and development from a non-linear out-of-equilibrium approach to a state-of-the-art agent-based macroeconomics. The book helps readers gain a better understanding of the limits and perspectives of the ACE models and their capacity to reproduce economic phenomena and empirical patterns.
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.