Agent-based Models in Economics: a Toolkit

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Nombre del producto:
Agent-based Models in Economics: a Toolkit
Fecha de edición:
1 mar. 2018
Número de Edición:
Delli Gatti, Domenico/ Fagiolo, Giorgio Gallegati, Mauro/ Richiardi, Matteo/ Russo, , Alberto
Lugar de edición:

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.

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.

Domenico Delli Gatti is Economics Professor at Università Cattolica del Sacro Cuore, Milano

Giorgio Fagiolo is Professor of Economics at the Institute of Economics, Scuola Superiore Sant'Anna, Pisa   

Mauro Gallegati is Professor of Economics at the Università Politecnica delle Marche, Ancona, and he has been a visiting professor in several Universities, including Stanford University, Massachusetts 

Matteo Richiardi is Senior Research Officer at the Institute for New Economic Thinking, Martin Oxford School, University of Oxford; an assistant professor at the Università degli Studi di Torino, Italy, an associate member of Nuffield College, Oxford; and an affiliate of Collegio Carlo Alberto, Torino

Alberto Russo is Assistant Professor of Economics at the Università Politecnica delle Marche, Ancona.   

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