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Book

Agent-Based Models in economics: a toolkit

Editors

Domenico Delli Gatti, Giorgio Fagiolo, Mauro Gallegati, Matteo Richiardi, and Alberto Russo

Publication date

2018

Summary

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.

Subjects

Econometrics, Mathematics, and Economics

Links

Cambridge University Press - https://www.cambridge.org/gb/academic/subjects/economics/econometrics-statistics-and-mathematical-economics/agent-based-models-economics-toolkit?format=PB

Notes

Not held in Hilary Doughty Research Library - bibliographic reference only

#525700


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