Advances in the Agent-based Modeling of Economic and Social Behavior

M Raddant April 19, 2021

A survey I wrote with Mitja Steinbacher, Fariba Karimi, Eva Cuena, Simone Alfarano, Giulia Iori and Thomas Lux: we discuss advances in the agent-based modeling of economic and social systems. We present the state of the art in the heuristic design of agents and the connections to the results from laboratory experiments on agent behavior. We further discuss how large-scale social and economic systems can be modeled and highlight novel methods and data sources. At last we present an overview of estimation techniques to calibrate and validate agent-based models.


New article collection on Agent-based models at SN Business & Economics

M Raddant September 7, 2020

This collection seeks to address relevant issues in economics by the use of the agent-based approach. It aims at identifying contributions that challenge traditional (i.e. econometric and closed-form) approaches in economics. The collection targets a wide window of possible applications of the agent-based approach with an equally important focus on an underlying methodology and behavioral assumptions of agents.