Econophysics Of Agent Based Models

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Econophysics of Agent-Based Models

Frédéric Abergel,Hideaki Aoyama,Bikas K. Chakrabarti,Anirban Chakraborti,Asim Ghosh
Econophysics of Agent Based Models Book PDF

Author : Frédéric Abergel,Hideaki Aoyama,Bikas K. Chakrabarti,Anirban Chakraborti,Asim Ghosh
Publisher : Springer Science & Business Media
Page : 302 pages
File Size : 45,9 Mb
Release : 2013-09-07
Category : Science
ISBN : 9783319000237

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Econophysics of Agent-Based Models by Frédéric Abergel,Hideaki Aoyama,Bikas K. Chakrabarti,Anirban Chakraborti,Asim Ghosh Pdf

The primary goal of this book is to present the research findings and conclusions of physicists, economists, mathematicians and financial engineers working in the field of "Econophysics" who have undertaken agent-based modelling, comparison with empirical studies and related investigations. Most standard economic models assume the existence of the representative agent, who is “perfectly rational” and applies the utility maximization principle when taking action. One reason for this is the desire to keep models mathematically tractable: no tools are available to economists for solving non-linear models of heterogeneous adaptive agents without explicit optimization. In contrast, multi-agent models, which originated from statistical physics considerations, allow us to go beyond the prototype theories of traditional economics involving the representative agent. This book is based on the Econophys-Kolkata VII Workshop, at which many such modelling efforts were presented. In the book, leading researchers in their fields report on their latest work, consider recent developments and review the contemporary literature.

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 : 46,7 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.

Econophysics

Sitabhra Sinha,Arnab Chatterjee,Anirban Chakraborti,Bikas K. Chakrabarti
Econophysics Book PDF

Author : Sitabhra Sinha,Arnab Chatterjee,Anirban Chakraborti,Bikas K. Chakrabarti
Publisher : John Wiley & Sons
Page : 371 pages
File Size : 42,6 Mb
Release : 2010-12-06
Category : Science
ISBN : 9783527408153

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Econophysics by Sitabhra Sinha,Arnab Chatterjee,Anirban Chakraborti,Bikas K. Chakrabarti Pdf

Filling the gap for an up-to-date textbook in this relatively new interdisciplinary research field, this volume provides readers with a thorough and comprehensive introduction. Based on extensive teaching experience, it includes numerous worked examples and highlights in special biographical boxes some of the most outstanding personalities and their contributions to both physics and economics. The whole is rounded off by several appendices containing important background material.

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 : 43,5 Mb
Release : 2016-09-21
Category : Business & Economics
ISBN : 9783319440583

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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.

Essentials of Econophysics Modelling

Frantisek Slanina
Essentials of Econophysics Modelling Book PDF

Author : Frantisek Slanina
Publisher : Oxford University Press
Page : 427 pages
File Size : 46,6 Mb
Release : 2013-12
Category : Business & Economics
ISBN : 9780199299683

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Essentials of Econophysics Modelling by Frantisek Slanina Pdf

This book is a course in methods and models rooted in physics and used in modelling economic and social phenomena. It covers the discipline of econophysics, which creates an interface between physics and economics. Besides the main theme, it touches on the theory of complex networks and simulations of social phenomena in general. After a brief historical introduction, the book starts with a list of basic empirical data and proceeds to thorough investigation of mathematical and computer models. Many of the models are based on hypotheses of the behaviour of simplified agents. These comprise strategic thinking, imitation, herding, and the gem of econophysics, the so-called minority game. At the same time, many other models view the economic processes as interactions of inanimate particles. Here, the methods of physics are especially useful. Examples of systems modelled in such a way include books of stock-market orders, and redistribution of wealth among individuals. Network effects are investigated in the interaction of economic agents. The book also describes how to model phenomena like cooperation and emergence of consensus. The book will be of benefit to graduate students and researchers in both Physics and Economics.

Agent-based Modeling of Tax Evasion

Sascha Hokamp,Laszlo Gulyas,Matthew Koehler,Sanith Wijesinghe
Agent based Modeling of Tax Evasion Book PDF

Author : Sascha Hokamp,Laszlo Gulyas,Matthew Koehler,Sanith Wijesinghe
Publisher : John Wiley & Sons
Page : 388 pages
File Size : 44,9 Mb
Release : 2018-03-19
Category : Mathematics
ISBN : 9781119155683

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Agent-based Modeling of Tax Evasion by Sascha Hokamp,Laszlo Gulyas,Matthew Koehler,Sanith Wijesinghe Pdf

The only single-source guide to understanding, using, adapting, and designing state-of-the-art agent-based modelling of tax evasion A computational method for simulating the behavior of individuals or groups and their effects on an entire system, agent-based modeling has proven itself to be a powerful new tool for detecting tax fraud. While interdisciplinary groups and individuals working in the tax domain have published numerous articles in diverse peer-reviewed journals and have presented their findings at international conferences, until Agent-based Modelling of Tax Evasion there was no authoritative, single-source guide to state-of-the-art agent-based tax evasion modeling techniques and technologies. Featuring contributions from distinguished experts in the field from around the globe, Agent-Based Modelling of Tax Evasion provides in-depth coverage of an array of field tested agent-based tax evasion models. Models are presented in a unified format so as to enable readers to systematically work their way through the various modeling alternatives available to them. Three main components of each agent-based model are explored in accordance with the Overview, Design Concepts, and Details (ODD) protocol, each section of which contains several sub elements that help to illustrate the model clearly and that assist readers in replicating the modeling results described. Presents models in a unified and structured manner to provide a point of reference for readers interested in agent-based modelling of tax evasion Explores the theoretical aspects and diversity of agent-based modeling through the example of tax evasion Provides an overview of the characteristics of more than thirty agent-based tax evasion frameworks Functions as a solid foundation for lectures and seminars on agent-based modelling of tax evasion The only comprehensive treatment of agent-based tax evasion models and their applications, this book is an indispensable working resource for practitioners and tax evasion modelers both in the agent-based computational domain and using other methodologies. It is also an excellent pedagogical resource for teaching tax evasion modeling and/or agent-based modeling generally.

Complex Agent-Based Models

Mauro Gallegati
Complex Agent Based Models Book PDF

Author : Mauro Gallegati
Publisher : Springer
Page : 80 pages
File Size : 54,5 Mb
Release : 2018-09-19
Category : Business & Economics
ISBN : 9783319938585

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Complex Agent-Based Models by Mauro Gallegati Pdf

This book offers a thorough introduction to the highly promising complex agent-based approach to economics, in which agent-based models (ABMs) are used to represent economic systems as complex and evolving systems composed of heterogeneous agents of limited rationality who interact with each other, generating the system’s emergent properties in the process. This approach represents a response to the limitations of the dominant theory in economics, which does not consider the possibility of a major crisis, and to the inability of dynamic stochastic general equilibrium theory to generate empirically falsifiable propositions. In the new perspective, the focus is on identifying the elements of instability rather than the triggering event. As the theory of complexity demonstrates, the interactions of heterogeneous agents produce non-linearity: this puts an end to the age of certainties. With ABMs, the methodology is “from the bottom up”. The individual parameters and their distribution are estimated, and then evaluated to verify whether aggregate regularities emerge on the whole. In short, not only micro, but also meso and macro empirical validation are employed. Moreover, it shows that the mantra of growth should be supplanted by the concept of a growth​. Given its depth of coverage, the book will enable students at the undergraduate and Master’s level to gain a firm grasp of this important emerging approach. “This book is flower blossomed by one of the two greatest Italian economists.” Bruce Greenwald, Columbia University “The author’s - the ABM prophet’s - thoughts on economics have been at the forefront of the world. Without a firm belief in and dedication to human society, it is impossible to write such a book. This is a work of high academic value, which can help readers quickly understand the history and current situation of complex economic theory. In particular, we can understand the basic viewpoints, academic status, advantages and shortcomings of various schools of economic theory.” Jie Wu, Guangzhou Milestone Software Co., China

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 : 42,6 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.

Agent-Based Modelling of Social Networks in Labour–Education Market System

Alexander Tarvid
Agent Based Modelling of Social Networks in Labour Education Market System Book PDF

Author : Alexander Tarvid
Publisher : Springer
Page : 92 pages
File Size : 49,8 Mb
Release : 2015-11-27
Category : Business & Economics
ISBN : 9783319265391

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Agent-Based Modelling of Social Networks in Labour–Education Market System by Alexander Tarvid Pdf

This book covers the modelling of human behaviour in the education and labour markets, which due to their interdependency are viewed as one system. Important factors influencing the decision-making of individuals and firms in this system are discussed. The role of social environment and networks is stressed. The approach of agent-based modelling is presented and compared with standard economic modelling and other simulation techniques in the context of modelling complex adaptive systems. Practical questions in building agent-based models of labour–education market system with social networks are discussed. These questions include modelling the structure of education system and agent behaviour there; modelling and calibrating the labour market without and with firms; generating the social network, defining its behaviour and calibrating it; and embedding the resulting system into a larger model.

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 : 43,9 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.

Econophysics and Financial Economics

Franck Jovanovic,Christophe Schinckus
Econophysics and Financial Economics Book PDF

Author : Franck Jovanovic,Christophe Schinckus
Publisher : Oxford University Press
Page : 249 pages
File Size : 55,6 Mb
Release : 2017
Category : Business & Economics
ISBN : 9780190205034

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Econophysics and Financial Economics by Franck Jovanovic,Christophe Schinckus Pdf

This work provides an extensive analytic comparison between models and results from econophysics and financial economics in an accessible and common vocabulary. Unlike other publications dedicated to econophysics, it situates this field in the evolution of financial economics by laying the foundations for common theoretical framework and models.

Experimental Econophysics

Ji-Ping Huang
Experimental Econophysics Book PDF

Author : Ji-Ping Huang
Publisher : Springer
Page : 204 pages
File Size : 49,8 Mb
Release : 2014-08-05
Category : Science
ISBN : 9783662442340

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Experimental Econophysics by Ji-Ping Huang Pdf

Experimental Econophysics describes the method of controlled human experiments, which is developed by physicists to study some problems in economics or finance, namely, stylized facts, fluctuation phenomena, herd behavior, contrarian behavior, hedge behavior, cooperation, business cycles, partial information, risk management, and stock prediction. Experimental econophysics together with empirical econophysics are two branches of the field of econophysics. The latter one has been extensively discussed in the existing books, while the former one has been seldom touched. In this book, the author will focus on the branch of experimental econophysics. Empirical econophysics is based on the analysis of data in real markets by using some statistical tools borrowed from traditional statistical physics. Differently, inspired by the role of controlled experiments and system modelling (for computer simulations and/or analytical theory) in developing modern physics, experimental econophysics specially relies on controlled human experiments in the laboratory (producing data for analysis) together with agent-based modelling (for computer simulations and/or analytical theory), with an aim at revealing the general cause-effect relationship between specific parameters and emergent properties of real economic/financial markets. This book covers the basic concepts, experimental methods, modelling approaches, and latest progress in the field of experimental econophysics.

Agent-Based Models

Nigel Gilbert
Agent Based Models Book PDF

Author : Nigel Gilbert
Publisher : SAGE
Page : 113 pages
File Size : 44,7 Mb
Release : 2008
Category : Computers
ISBN : 9781412949644

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Agent-Based Models by Nigel Gilbert Pdf

Aimed at readers with minimal experience in computer programming, this brief book provides a theoretical and methodological rationale for using ABM in the social sciences. It goes on to describe some carefully chosen examples from different disciplines, illustrating different approaches to ABM. It concludes with practical advice about how to design and create ABM, a discussion of validation procedures, and some guidelines about publishing articles based on ABM.

Econophysics and Data Driven Modelling of Market Dynamics

Frédéric Abergel,Hideaki Aoyama,Bikas K. Chakrabarti,Anirban Chakraborti,Asim Ghosh
Econophysics and Data Driven Modelling of Market Dynamics Book PDF

Author : Frédéric Abergel,Hideaki Aoyama,Bikas K. Chakrabarti,Anirban Chakraborti,Asim Ghosh
Publisher : Springer
Page : 353 pages
File Size : 43,9 Mb
Release : 2015-01-27
Category : Science
ISBN : 9783319084732

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Econophysics and Data Driven Modelling of Market Dynamics by Frédéric Abergel,Hideaki Aoyama,Bikas K. Chakrabarti,Anirban Chakraborti,Asim Ghosh Pdf

This book presents the works and research findings of physicists, economists, mathematicians, statisticians, and financial engineers who have undertaken data-driven modelling of market dynamics and other empirical studies in the field of Econophysics. During recent decades, the financial market landscape has changed dramatically with the deregulation of markets and the growing complexity of products. The ever-increasing speed and decreasing costs of computational power and networks have led to the emergence of huge databases. The availability of these data should permit the development of models that are better founded empirically, and econophysicists have accordingly been advocating that one should rely primarily on the empirical observations in order to construct models and validate them. The recent turmoil in financial markets and the 2008 crash appear to offer a strong rationale for new models and approaches. The Econophysics community accordingly has an important future role to play in market modelling. The Econophys-Kolkata VIII conference proceedings are devoted to the presentation of many such modelling efforts and address recent developments. A number of leading researchers from across the globe report on their recent work, comment on the latest issues, and review the contemporary literature.

Proceedings of the International Conference on Social Modeling and Simulation, plus Econophysics Colloquium 2014

Hideki Takayasu,Nobuyasu Ito,Itsuki Noda,Misako Takayasu
Proceedings of the International Conference on Social Modeling and Simulation plus Econophysics Colloquium 2014 Book PDF

Author : Hideki Takayasu,Nobuyasu Ito,Itsuki Noda,Misako Takayasu
Publisher : Springer
Page : 346 pages
File Size : 53,7 Mb
Release : 2015-08-10
Category : Science
ISBN : 9783319205915

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Proceedings of the International Conference on Social Modeling and Simulation, plus Econophysics Colloquium 2014 by Hideki Takayasu,Nobuyasu Ito,Itsuki Noda,Misako Takayasu Pdf

The proceedings of the international conference “SMSEC2014”, a joint conference of the first “Social Modeling and Simulations” and the 10th “Econophysics Colloquium”, held in Kobe in November 2014 with 174 participants, are gathered herein. Cutting edge scientific researches on various social phenomena are reviewed. New methods for analysis of big data such as financial markets, automobile traffics, epidemic spreading, world-trades and social media communications are provided to clarify complex interaction and distributions underlying in these social phenomena. Robustness and fragility of social systems are discussed based on agent models and complex network models. Techniques about high performance computers are introduced for simulation of complicated social phenomena. Readers will feel the researchers minds that deep and quantitative understanding will make it possible to realize comprehensive simulations of our whole society in the near future, which will contribute to wide fields of industry also to scientific policy decision.