The Resource Economics with heterogeneous interacting agents : a practical guide to agent-based modeling, Alessandro Caiani, Alberto Russo, Antonio Palestrini, Mauro Gallegati, editors

Economics with heterogeneous interacting agents : a practical guide to agent-based modeling, Alessandro Caiani, Alberto Russo, Antonio Palestrini, Mauro Gallegati, editors

Label
Economics with heterogeneous interacting agents : a practical guide to agent-based modeling
Title
Economics with heterogeneous interacting agents
Title remainder
a practical guide to agent-based modeling
Statement of responsibility
Alessandro Caiani, Alberto Russo, Antonio Palestrini, Mauro Gallegati, editors
Contributor
Editor
Subject
Genre
Language
eng
Summary
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.--
Member of
Assigning source
Provided by publisher
Cataloging source
N$T
Dewey number
330.015195
Index
index present
LC call number
HB141
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Caiani, Alessandro
  • Russo, Alberto
  • Palestrini, Antonio
  • Gallegati, M.
Series statement
New economic windows
http://library.link/vocab/subjectName
  • Econometric models
  • Economics
  • BUSINESS & ECONOMICS
  • BUSINESS & ECONOMICS
  • Econometric models
  • Economics
  • Microeconomics
  • 3D graphics & modelling
  • Society & social sciences
  • Macroeconomics
Label
Economics with heterogeneous interacting agents : a practical guide to agent-based modeling, Alessandro Caiani, Alberto Russo, Antonio Palestrini, Mauro Gallegati, editors
Link
https://ezproxy.lib.ou.edu/login?url=http://link.springer.com/10.1007/978-3-319-44058-3
Instantiates
Publication
Antecedent source
unknown
Bibliography note
Includes bibliographical references and index
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
  • Foreword; Contents; Contributors; Introduction; 1 Getting Started: The Aggregation Conundrums and Basic Toolkits of Agent Based Modeling; 1.1 Understanding Heterogeneity and Interaction in Economic Models; 1.1.1 Aggregate Models with Boundlessly Rational Agents; 1.1.2 The Aggregation Problem; 1.1.3 The Standard Approach and the Aggregation Problem; 1.1.4 A Didactic Example Comparing ABM with the Standard Approach; 1.1.5 Behavioral Rules and Aggregation in ABM; 1.1.6 Aggregation in ABM with Network Effects; 1.2 Basic Macroeconomic Agent Based Tools; 1.2.1 Macroeconomic Building Blocks
  • 1.2.2 Expectations1.2.3 Production and Credit; 1.2.4 Innovation; 1.2.5 Consumption; 1.2.6 Government and Central Bank; 1.2.7 Exit and Enter; 1.3 Basic Financial Agent Based Tools; 1.3.1 Financial Building Blocks; 1.3.2 Microfoundations and Behavioural Rules; 1.3.3 Market Microstructure; 2 A Simple Model of Business Fluctuations with Heterogeneous Interacting Agents and Credit Networks; 2.1 Getting Started: Implementing a Toy Model; 2.1.1 Model Theoretical Setup; 2.1.2 Implementing the Model Using R; 2.1.3 Simulating the Model; 2.1.4 Some Variations; 2.1.5 Multiple Simulations
  • 2.1.6 A #x8D;Large#x8E; Computational Experiment2.1.7 Sensitivity Analysis; 2.1.8 A Policy Experiment; 2.2 Going Further: Heterogeneous Agents and Credit Networks; 2.2.1 Model Setup; 2.2.2 Implementing the Model with R; 2.2.3 Implementing the Model in R; 2.2.4 Sensitivity; 2.2.5 Policy Experiment; 2.2.6 Network Analysis; 2.2.7 Network Statistics; 2.3 A Calibration Experiment; 2.4 Exercise; 3 Modeling Financial Markets in an Agent-Based Framework; 3.1 Introduction; 3.2 The Model; 3.2.1 The Market Microstructure; 3.2.2 The Communication Network; 3.3 Implementing the Financial Model: Preliminary Steps
  • 3.4 Order of Events in the Simplified Financial Model3.5 Implementing the Model in C; 3.5.1 Basic Structure of a C Source Code; 3.6 Implementing the C Source Code; 3.6.1 Introduction; 3.6.2 Initialize Variables; 3.6.3 The Matrix Functions; 3.6.4 The Trade Function; 3.6.5 The Check_Book Function; 3.7 Simulations and Results; 3.7.1 Returns and Volatility; 3.7.2 Book and Order Flows; 3.7.3 Discussion: The Network Analysis; 3.8 Exercises; 3.9 Appendix: Hill Estimator; 3.10 Appendix: Modified R/S and Long Memory; 4 Heavy-Tailed Distributions for Agent-Based Economic Modelling; 4.1 Introduction
  • 4.2 Heavy-Tailed Distributions4.3 Power-Law Distributions; 4.3.1 Some Basic Definitions and Properties; 4.3.2 Recognizing Power-Law Distributions; 4.3.3 Estimating Power-Law Distributional Parameters; 4.3.4 Testing a Set of Data for Power-Law Distribution; 4.3.5 Models of Generation of Power-Law Distributions; 4.4 The Laplace Distribution; 4.5 Exercise; Conclusion; References; Index
Dimensions
unknown
Extent
1 online resource.
File format
unknown
Form of item
online
Isbn
9783319440583
Level of compression
unknown
Media category
computer
Media MARC source
rdamedia
Media type code
c
Note
SpringerLink
Quality assurance targets
not applicable
Reformatting quality
unknown
Sound
unknown sound
Specific material designation
remote
System control number
  • (OCoLC)958984687
  • (OCoLC)ocn958984687
Label
Economics with heterogeneous interacting agents : a practical guide to agent-based modeling, Alessandro Caiani, Alberto Russo, Antonio Palestrini, Mauro Gallegati, editors
Link
https://ezproxy.lib.ou.edu/login?url=http://link.springer.com/10.1007/978-3-319-44058-3
Publication
Antecedent source
unknown
Bibliography note
Includes bibliographical references and index
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
  • Foreword; Contents; Contributors; Introduction; 1 Getting Started: The Aggregation Conundrums and Basic Toolkits of Agent Based Modeling; 1.1 Understanding Heterogeneity and Interaction in Economic Models; 1.1.1 Aggregate Models with Boundlessly Rational Agents; 1.1.2 The Aggregation Problem; 1.1.3 The Standard Approach and the Aggregation Problem; 1.1.4 A Didactic Example Comparing ABM with the Standard Approach; 1.1.5 Behavioral Rules and Aggregation in ABM; 1.1.6 Aggregation in ABM with Network Effects; 1.2 Basic Macroeconomic Agent Based Tools; 1.2.1 Macroeconomic Building Blocks
  • 1.2.2 Expectations1.2.3 Production and Credit; 1.2.4 Innovation; 1.2.5 Consumption; 1.2.6 Government and Central Bank; 1.2.7 Exit and Enter; 1.3 Basic Financial Agent Based Tools; 1.3.1 Financial Building Blocks; 1.3.2 Microfoundations and Behavioural Rules; 1.3.3 Market Microstructure; 2 A Simple Model of Business Fluctuations with Heterogeneous Interacting Agents and Credit Networks; 2.1 Getting Started: Implementing a Toy Model; 2.1.1 Model Theoretical Setup; 2.1.2 Implementing the Model Using R; 2.1.3 Simulating the Model; 2.1.4 Some Variations; 2.1.5 Multiple Simulations
  • 2.1.6 A #x8D;Large#x8E; Computational Experiment2.1.7 Sensitivity Analysis; 2.1.8 A Policy Experiment; 2.2 Going Further: Heterogeneous Agents and Credit Networks; 2.2.1 Model Setup; 2.2.2 Implementing the Model with R; 2.2.3 Implementing the Model in R; 2.2.4 Sensitivity; 2.2.5 Policy Experiment; 2.2.6 Network Analysis; 2.2.7 Network Statistics; 2.3 A Calibration Experiment; 2.4 Exercise; 3 Modeling Financial Markets in an Agent-Based Framework; 3.1 Introduction; 3.2 The Model; 3.2.1 The Market Microstructure; 3.2.2 The Communication Network; 3.3 Implementing the Financial Model: Preliminary Steps
  • 3.4 Order of Events in the Simplified Financial Model3.5 Implementing the Model in C; 3.5.1 Basic Structure of a C Source Code; 3.6 Implementing the C Source Code; 3.6.1 Introduction; 3.6.2 Initialize Variables; 3.6.3 The Matrix Functions; 3.6.4 The Trade Function; 3.6.5 The Check_Book Function; 3.7 Simulations and Results; 3.7.1 Returns and Volatility; 3.7.2 Book and Order Flows; 3.7.3 Discussion: The Network Analysis; 3.8 Exercises; 3.9 Appendix: Hill Estimator; 3.10 Appendix: Modified R/S and Long Memory; 4 Heavy-Tailed Distributions for Agent-Based Economic Modelling; 4.1 Introduction
  • 4.2 Heavy-Tailed Distributions4.3 Power-Law Distributions; 4.3.1 Some Basic Definitions and Properties; 4.3.2 Recognizing Power-Law Distributions; 4.3.3 Estimating Power-Law Distributional Parameters; 4.3.4 Testing a Set of Data for Power-Law Distribution; 4.3.5 Models of Generation of Power-Law Distributions; 4.4 The Laplace Distribution; 4.5 Exercise; Conclusion; References; Index
Dimensions
unknown
Extent
1 online resource.
File format
unknown
Form of item
online
Isbn
9783319440583
Level of compression
unknown
Media category
computer
Media MARC source
rdamedia
Media type code
c
Note
SpringerLink
Quality assurance targets
not applicable
Reformatting quality
unknown
Sound
unknown sound
Specific material designation
remote
System control number
  • (OCoLC)958984687
  • (OCoLC)ocn958984687

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