Overview
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.
Full Product Details
Author: Alessandro Caiani ,
Alberto Russo ,
Antonio Palestrini ,
Mauro Gallegati
Publisher: Springer International Publishing AG
Imprint: Springer International Publishing AG
Edition: Softcover reprint of the original 1st ed. 2016
Dimensions:
Width: 15.50cm
, Height: 1.20cm
, Length: 23.50cm
Weight: 0.454kg
ISBN: 9783319829722
ISBN 10: 3319829726
Pages: 205
Publication Date: 22 April 2018
Audience:
Professional and scholarly
,
Professional & Vocational
Format: Paperback
Publisher's Status: Active
Availability: Manufactured on demand
We will order this item for you from a manufactured on demand supplier.
Reviews
“The book is constructed and written in a clear manner. It provides a proper literature review on the ABM literature and on traditional economics. … The book is intended for graduate and Ph.D. students.” (Wei-Bin Zhang, Journal of Economic Interaction and Coordination, Vol. 13, 2018) “This volume provides an excellent, hands-on introduction to agent-based modeling in macroeconomics and finance. … it strikes a good balance between parsimony and detailed instruction. By working with this text and its online code, a student or scholar can ramp up fairly quickly to running his/her own computational experiments in R or C. … In summary, this is a highly valuable contribution.” (Christophre Georges, Journal ofEconomic Literature, Vol. 55 (2), June, 2017)
This volume provides an excellent, hands-on introduction to agent-based modeling in macroeconomics and finance. ... it strikes a good balance between parsimony and detailed instruction. By working with this text and its online code, a student or scholar can ramp up fairly quickly to running his/her own computational experiments in R or C. ... In summary, this is a highly valuable contribution. (Christophre Georges, Journal of Economic Literature, Vol. 55 (2), June, 2017)
The book is constructed and written in a clear manner. It provides a proper literature review on the ABM literature and on traditional economics. ... The book is intended for graduate and Ph.D. students. (Wei-Bin Zhang, Journal of Economic Interaction and Coordination, Vol. 13, 2018) This volume provides an excellent, hands-on introduction to agent-based modeling in macroeconomics and finance. ... it strikes a good balance between parsimony and detailed instruction. By working with this text and its online code, a student or scholar can ramp up fairly quickly to running his/her own computational experiments in R or C. ... In summary, this is a highly valuable contribution. (Christophre Georges, Journal of Economic Literature, Vol. 55 (2), June, 2017)
Author Information
Mauro Gallegati is Professor of Economics at the Polytechnic University of Marche (Ancona, Italy). His research includes business fluctuations, nonlinear dynamics, models of financial fragility, and heterogeneous interacting agents. He has published books and many papers in leading journals in the fields of economics, economic history and history of economic analysis, nonlinear mathematics, applied economics, complexity, and econophysics. He has been involved in several international research projects since 2004.
