Agent Based Methods In Economics And Finance

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Network Theory and Agent-Based Modeling in Economics and Finance

Anindya S. Chakrabarti,Lukáš Pichl,Taisei Kaizoji
Network Theory and Agent Based Modeling in Economics and Finance Book PDF

Author : Anindya S. Chakrabarti,Lukáš Pichl,Taisei Kaizoji
Publisher : Springer Nature
Page : 458 pages
File Size : 54,7 Mb
Release : 2019-10-23
Category : Business & Economics
ISBN : 9789811383199

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Network Theory and Agent-Based Modeling in Economics and Finance by Anindya S. Chakrabarti,Lukáš Pichl,Taisei Kaizoji Pdf

This book presents the latest findings on network theory and agent-based modeling of economic and financial phenomena. In this context, the economy is depicted as a complex system consisting of heterogeneous agents that interact through evolving networks; the aggregate behavior of the economy arises out of billions of small-scale interactions that take place via countless economic agents. The book focuses on analytical modeling, and on the econometric and statistical analysis of the properties emerging from microscopic interactions. In particular, it highlights the latest empirical and theoretical advances, helping readers understand economic and financial networks, as well as new work on modeling behavior using rich, agent-based frameworks. Innovatively, the book combines observational and theoretical insights in the form of networks and agent-based models, both of which have proved to be extremely valuable in understanding non-linear and evolving complex systems. Given its scope, the book will capture the interest of graduate students and researchers from various disciplines (e.g. economics, computer science, physics, and applied mathematics) whose work involves the domain of complexity theory.

Agent-Based Methods in Economics and Finance

Francesco Luna,Alessandro Perrone
Agent Based Methods in Economics and Finance Book PDF

Author : Francesco Luna,Alessandro Perrone
Publisher : Springer Science & Business Media
Page : 306 pages
File Size : 46,7 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461507857

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Agent-Based Methods in Economics and Finance by Francesco Luna,Alessandro Perrone Pdf

This second book on financial and economic simulations in Swarm marks the continued progress by a group of researchers to incorporate agent-based computer models as an important tool within their disci pline. It is encouraging to see such a clear example of Swarm helping to foster a community of users who rely on the Swarm framework for their own analyses. Swarm aims at legitimizing agent-based computer models as a tool for the study of complex systems. A further goal is that a common base framework will lead to the growth of user communities in specific areas of application. By providing an organizing framework to guide the development of more problem-specific structures, and by dealing with a whole range of issues that affect their fundamental correctness and their ability to be developed and reused, Swarm has sought to make the use of agent-based models a legitimate tool of scientific investigation that also meets the practical needs of investigators within a community.

Artificial Economics

Philippe Mathieu,Bruno Beaufils,Olivier Brandouy
Artificial Economics Book PDF

Author : Philippe Mathieu,Bruno Beaufils,Olivier Brandouy
Publisher : Springer Science & Business Media
Page : 238 pages
File Size : 50,6 Mb
Release : 2005-12-17
Category : Business & Economics
ISBN : 9783540285472

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Artificial Economics by Philippe Mathieu,Bruno Beaufils,Olivier Brandouy Pdf

Agent-based Computational Economics (ACE) is a new discipline of economics, largely grounded on concepts like evolution, auto-organisation and emergence: it intensively uses computer simulations as well as artificial intelligence, mostly based on multi-agents systems. The purpose of this book is to give an up-to date view of the scientific production in the fields of Agent-based Computational Economics (mainly in Market Finance and Game Theory). Based on communications given at AE'2005 (Lille, USTL, France), this book offers a wide panorama of recent advances in ACE (both theoretical and methodological) that will interest academics as well as practitioners.

The Oxford Handbook of Computational Economics and Finance

Shu-Heng Chen,Mak Kaboudan,Ye-Rong Du
The Oxford Handbook of Computational Economics and Finance Book PDF

Author : Shu-Heng Chen,Mak Kaboudan,Ye-Rong Du
Publisher : Oxford University Press
Page : 784 pages
File Size : 43,7 Mb
Release : 2018-01-12
Category : Business & Economics
ISBN : 9780190877507

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The Oxford Handbook of Computational Economics and Finance by Shu-Heng Chen,Mak Kaboudan,Ye-Rong Du Pdf

The Oxford Handbook of Computational Economics and Finance provides a survey of both the foundations of and recent advances in the frontiers of analysis and action. It is both historically and interdisciplinarily rich and also tightly connected to the rise of digital society. It begins with the conventional view of computational economics, including recent algorithmic development in computing rational expectations, volatility, and general equilibrium. It then moves from traditional computing in economics and finance to recent developments in natural computing, including applications of nature-inspired intelligence, genetic programming, swarm intelligence, and fuzzy logic. Also examined are recent developments of network and agent-based computing in economics. How these approaches are applied is examined in chapters on such subjects as trading robots and automated markets. The last part deals with the epistemology of simulation in its trinity form with the integration of simulation, computation, and dynamics. Distinctive is the focus on natural computationalism and the examination of the implications of intelligent machines for the future of computational economics and finance. Not merely individual robots, but whole integrated systems are extending their "immigration" to the world of Homo sapiens, or symbiogenesis.

Agent-based Models of the Economy

R. Boero,M. Morini,M. Sonnessa,P. Terna
Agent based Models of the Economy Book PDF

Author : R. Boero,M. Morini,M. Sonnessa,P. Terna
Publisher : Palgrave Macmillan
Page : 0 pages
File Size : 50,7 Mb
Release : 2015-06-29
Category : Business & Economics
ISBN : 1137339802

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Agent-based Models of the Economy by R. Boero,M. Morini,M. Sonnessa,P. Terna Pdf

Agent-based models are tools that provide researchers in economic fields with unprecedented analytical capabilities. This book describes the power of agent-based models along their methodology, and it provides several examples of applications spanning from public policy evaluation to financial markets.

Agent-Based Models in Economics

Domenico Delli Gatti,Giorgio Fagiolo,Mauro Gallegati,Alberto Russo
Agent Based Models in Economics Book PDF

Author : Domenico Delli Gatti,Giorgio Fagiolo,Mauro Gallegati,Alberto Russo
Publisher : Cambridge University Press
Page : 261 pages
File Size : 40,5 Mb
Release : 2018-03-22
Category : Business & Economics
ISBN : 9781108414999

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Agent-Based Models in Economics by Domenico Delli Gatti,Giorgio Fagiolo,Mauro Gallegati,Alberto Russo Pdf

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

Agent-Based Modelling in Economics

Lynne Hamill,Nigel Gilbert
Agent Based Modelling in Economics Book PDF

Author : Lynne Hamill,Nigel Gilbert
Publisher : John Wiley & Sons
Page : 256 pages
File Size : 53,9 Mb
Release : 2016-01-19
Category : Social Science
ISBN : 9781118456071

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Agent-Based Modelling in Economics by Lynne Hamill,Nigel Gilbert Pdf

Agent-based modelling in economics Lynne Hamill and Nigel Gilbert, Centre for Research in Social Simulation (CRESS), University of Surrey, UK New methods of economic modelling have been sought as a result of the global economic downturn in 2008.This unique book highlights the benefits of an agent-based modelling (ABM) approach. It demonstrates how ABM can easily handle complexity: heterogeneous people, households and firms interacting dynamically. Unlike traditional methods, ABM does not require people or firms to optimise or economic systems to reach equilibrium. ABM offers a way to link micro foundations directly to the macro situation. Key features: Introduces the concept of agent-based modelling and shows how it differs from existing approaches. Provides a theoretical and methodological rationale for using ABM in economics, along with practical advice on how to design and create the models. Each chapter starts with a short summary of the relevant economic theory and then shows how to apply ABM. Explores both topics covered in basic economics textbooks and current important policy themes; unemployment, exchange rates, banking and environmental issues. Describes the models in pseudocode, enabling the reader to develop programs in their chosen language. Supported by a website featuring the NetLogo models described in the book. Agent-based Modelling in Economics provides students and researchers with the skills to design, implement, and analyze agent-based models. Third year undergraduate, master and doctoral students, faculty and professional economists will find this book an invaluable resource.

Economics with Heterogeneous Interacting Agents

Alessandro Caiani,Alberto Russo,Antonio Palestrini,Mauro Gallegati
Economics with Heterogeneous Interacting Agents Book PDF

Author : Alessandro Caiani,Alberto Russo,Antonio Palestrini,Mauro Gallegati
Publisher : Springer
Page : 205 pages
File Size : 41,6 Mb
Release : 2018-04-22
Category : Business & Economics
ISBN : 3319829726

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Economics with Heterogeneous Interacting Agents by Alessandro Caiani,Alberto Russo,Antonio Palestrini,Mauro Gallegati Pdf

This book offers a practical guide to Agent Based economic modeling, adopting a “learning by doing” approach to help the reader master the fundamental tools needed to create and analyze Agent Based models. After providing them with a basic “toolkit” for Agent Based modeling, it present and discusses didactic models of real financial and economic systems in detail. While stressing the main features and advantages of the bottom-up perspective inherent to this approach, the book also highlights the logic and practical steps that characterize the model building procedure. A detailed description of the underlying codes, developed using R and C, is also provided. In addition, each didactic model is accompanied by exercises and applications designed to promote active learning on the part of the reader. Following the same approach, the book also presents several complementary tools required for the analysis and validation of the models, such as sensitivity experiments, calibration exercises, economic network and statistical distributions analysis. By the end of the book, the reader will have gained a deeper understanding of the Agent Based methodology and be prepared to use the fundamental techniques required to start developing their own economic models. Accordingly, “Economics with Heterogeneous Interacting Agents” will be of particular interest to graduate and postgraduate students, as well as to academic institutions and lecturers interested in including an overview of the AB approach to economic modeling in their courses.

Introduction to Agent-Based Economics

Mauro Gallegati,Antonio Palestrini,Alberto Russo
Introduction to Agent Based Economics Book PDF

Author : Mauro Gallegati,Antonio Palestrini,Alberto Russo
Publisher : Academic Press
Page : 274 pages
File Size : 47,8 Mb
Release : 2017-08-03
Category : Business & Economics
ISBN : 9780128039038

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Introduction to Agent-Based Economics by Mauro Gallegati,Antonio Palestrini,Alberto Russo Pdf

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. Reviews the literature of agent-based computational economics Analyzes approaches to agents’ expectations Covers one of the few large macroeconomic agent-based models, the Modellaccio Illustrates both analytical and computational methodologies for producing tractable solutions of macro ACE models Describes diffusion and amplification mechanisms Depicts macroeconomic experiments related to ACE implementations

Agent-Based Approaches in Economic and Social Complex Systems VI

Shu-Heng Chen,Takao Terano,Ryuichi Yamamoto
Agent Based Approaches in Economic and Social Complex Systems VI Book PDF

Author : Shu-Heng Chen,Takao Terano,Ryuichi Yamamoto
Publisher : Springer Science & Business Media
Page : 199 pages
File Size : 54,8 Mb
Release : 2011-01-12
Category : Social Science
ISBN : 9784431539070

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Agent-Based Approaches in Economic and Social Complex Systems VI by Shu-Heng Chen,Takao Terano,Ryuichi Yamamoto Pdf

Agent-based modeling/simulation is an emergent approach to the analysis of social and economic systems. It provides a bottom-up experimental method to be applied to social sciences such as economics, management, sociology, and politics as well as some engineering fields dealing with social activities. This book includes selected papers presented at the Sixth International Workshop on Agent-Based Approaches in Economic and Social Complex Systems held in Taipei in 2009. We have 39 presentations in the conference, and 14 papers are selected to be included in this volume. These 14 papers are then grouped into six parts: Agent-based financial markets; Financial forecasting and investment; Cognitive modeling of agents; Complexity and policy analysis; Agent-based modeling of good societies; and Miscellany. The research presented here shows the state of the art in this rapidly growing field.

Agent-Based Modeling

Norman Ehrentreich
Agent Based Modeling Book PDF

Author : Norman Ehrentreich
Publisher : Springer Science & Business Media
Page : 238 pages
File Size : 46,9 Mb
Release : 2007-10-30
Category : Business & Economics
ISBN : 9783540738787

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Agent-Based Modeling by Norman Ehrentreich Pdf

This book reconciles the existence of technical trading with the Efficient Market Hypothesis. By analyzing a well-known agent-based model, the Santa Fe Institute Artificial Stock Market (SFI-ASM), it finds that when selective forces are weak, financial evolution cannot guarantee that only the fittest trading rules will survive. Its main contribution lies in the application of standard results from population genetics which have widely been neglected in the agent-based community.

Agent-based Models of the Economy

R. Boero,M. Morini,M. Sonnessa,P. Terna
Agent based Models of the Economy Book PDF

Author : R. Boero,M. Morini,M. Sonnessa,P. Terna
Publisher : Springer
Page : 225 pages
File Size : 55,9 Mb
Release : 2015-06-16
Category : Business & Economics
ISBN : 9781137339812

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Agent-based Models of the Economy by R. Boero,M. Morini,M. Sonnessa,P. Terna Pdf

Agent-based models are tools that provide researchers in economic fields with unprecedented analytical capabilities. This book describes the power of agent-based models along their methodology, and it provides several examples of applications spanning from public policy evaluation to financial markets.

Computational Methods in Economic Dynamics

Herbert Dawid,Willi Semmler
Computational Methods in Economic Dynamics Book PDF

Author : Herbert Dawid,Willi Semmler
Publisher : Springer Science & Business Media
Page : 217 pages
File Size : 47,6 Mb
Release : 2011-03-23
Category : Business & Economics
ISBN : 9783642169434

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Computational Methods in Economic Dynamics by Herbert Dawid,Willi Semmler Pdf

This volume is centered around the issue of market design and resulting market dynamics. The economic crisis of 2007-2009 has once again highlighted the importance of a proper design of market protocols and institutional details for economic dynamics and macroeconomics. Papers in this volume capture institutional details of particular markets, behavioral details of agents' decision making as well as spillovers between markets and effects to the macroeconomy. Computational methods are used to replicate and understand market dynamics emerging from interaction of heterogeneous agents, and to develop models that have predictive power for complex market dynamics. Finally treatments of overlapping generations models and differential games with heterogeneous actors are provided.

How Do I Develop an Agent-Based Model?

Davide Secchi
How Do I Develop an Agent Based Model Book PDF

Author : Davide Secchi
Publisher : Edward Elgar Publishing
Page : 176 pages
File Size : 42,5 Mb
Release : 2022-04-28
Category : Electronic
ISBN : 1839105194

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How Do I Develop an Agent-Based Model? by Davide Secchi Pdf

This clear and coherent book introduces agent-based modelling (ABM) to those who are not familiar with nor have been previously exposed to computational simulation. Featuring examples, cases and models, the book illustrates how ABM can, and should, be considered as a useful approach and technique for the study of management and organisational systems. Davide Secchi begins by explaining what ABM has to offer as opposed to other techniques, emphasising its suitability to the study of complex social systems. While dissecting the core components of the approach, he introduces key elements and mechanisms with a practice oriented approach rather than insisting solely on logic and theory. With an emphasis on applications and using examples from NetLogo -- one of the most widely used agent-based software platforms -- the book guides the reader through a step-by-step process on how to develop a computational simulation. Featuring a hands-on applied approach that makes a difficult topic easy for non-modellers, How Do I Develop an Agent-Based Model? will be a key resource for business and management Masters-level students embarking on a dissertation project. It will also be a useful reference for PhD students in the field, as well as a starting point for academics who would like to begin using ABM in their research.

Handbook of Computational Economics

Leigh Tesfatsion,Kenneth L. Judd
Handbook of Computational Economics Book PDF

Author : Leigh Tesfatsion,Kenneth L. Judd
Publisher : Elsevier
Page : 905 pages
File Size : 45,9 Mb
Release : 2006-05-15
Category : Business & Economics
ISBN : 9780080459875

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Handbook of Computational Economics by Leigh Tesfatsion,Kenneth L. Judd Pdf

The explosive growth in computational power over the past several decades offers new tools and opportunities for economists. This handbook volume surveys recent research on Agent-based Computational Economics (ACE), the computational study of economic processes modeled as dynamic systems of interacting agents. Empirical referents for "agents" in ACE models can range from individuals or social groups with learning capabilities to physical world features with no cognitive function. Topics covered include: learning; empirical validation; network economics; social dynamics; financial markets; innovation and technological change; organizations; market design; automated markets and trading agents; political economy; social-ecological systems; computational laboratory development; and general methodological issues. *Every volume contains contributions from leading researchers *Each Handbook presents an accurate, self-contained survey of a particular topic *The series provides comprehensive and accessible surveys