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.
1. Part I: Introduction - p. xiii 2. Chapter 1: An Introduction to Agent-Based Computational Macroeconomics - p. xiii 3. Part II: Macroeconomic Agent-Based Computational Economics - p. 11 4. Chapter 2: Decentralized Interacting Macroeconomics and the Agent-Based “Modellaccio” - p. 11 5. Chapter 3: AD-AS Representation of Macroeconomic Emergent Properties - p. 64 6. Chapter 4: Heterogeneity in Macroeconomics: DSGE and Agent-Based Model Approach - p. 86 7. Chapter 5: Early Warning Indicator for Crises in an Agent-Based Macromodel - p. 103 8. Part III: Macroeconomic ABM: Perspectives and Implications - p. 124 9. Chapter 6: Expectation Models in Agent-Based Computational Economics - p. 124 10. Chapter 7: Experimental Economics for ABM Validation - p. 142 11. Chapter 8: Econometric Methods for Agent-Based Models - p. 162 12. Chapter 9: Modeling the Joint Distribution of Income and Consumption in Italy - p. 189 13. Chapter 10: A Networked Economy: A Survey on the Effect of Interaction in Credit Markets - p. 228 14. Index - p. 253
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.
1. Part I: Introduction - p. xiii 2. Chapter 1: An Introduction to Agent-Based Computational Macroeconomics - p. xiii 3. Part II: Macroeconomic Agent-Based Computational Economics - p. 11 4. Chapter 2: Decentralized Interacting Macroeconomics and the Agent-Based “Modellaccio” - p. 11 5. Chapter 3: AD-AS Representation of Macroeconomic Emergent Properties - p. 64 6. Chapter 4: Heterogeneity in Macroeconomics: DSGE and Agent-Based Model Approach - p. 86 7. Chapter 5: Early Warning Indicator for Crises in an Agent-Based Macromodel - p. 103 8. Part III: Macroeconomic ABM: Perspectives and Implications - p. 124 9. Chapter 6: Expectation Models in Agent-Based Computational Economics - p. 124 10. Chapter 7: Experimental Economics for ABM Validation - p. 142 11. Chapter 8: Econometric Methods for Agent-Based Models - p. 162 12. Chapter 9: Modeling the Joint Distribution of Income and Consumption in Italy - p. 189 13. Chapter 10: A Networked Economy: A Survey on the Effect of Interaction in Credit Markets - p. 228 14. Index - p. 253
