Agent-based Models: A Toolkit
- Cambridge University Press
- xviii, 241 pages; illustrations: 24 cm.
What Why When 10 AgentBased Models as Recursive S...33 Rationality Behavior and Expecta...43 Agents Behavior and Learning 81 Interaction 109 The AgentBased Experiment 143 Empirical Validation of AgentBas...163 Estimation of AgentBased Models 183 Epilogue 222
'Some 25 years ago, Frank Hahn a leading economic theorist said, '... wildly complex systems need simulating ... while there will be work for the computer scientist, I very much doubt that economists will be able to establish general propositions in any but very special examples'. Economists have reacted by saying 'show us an alternative'. This book does just that. It provides the elements of an alternative computational approach in which aggregate phenomena such as crises do not appear from the blue, but emerge from the interaction between simple but heterogeneous agents.' Alan Kirman, University of Aix-Marseille III