ROBUST MATHEMATICAL FORMULATION AND PROBABILISTIC DESCRIPTION OF AGENT-BASED COMPUTATIONAL ECONOMIC MARKET MODELS

Designing agent-based market models

In light of the growing interest in agent-based market models, we bring together several earlier works in which we considered the topic of selfconsistent market modelling. Building upon the binary game structure of Challet and Zhang, we discuss generalizations of the strategy reward scheme such that the agents seek to maximize their wealth in a more direct way. We then examine a disturbing feat...

Agent-based models of the labor market

We review the literature on agent-based labor market models by tracing its roots to the microsimulation literature, and surveying a selection of contributions made since the work by Bergmann (1974) and Eliasson (1976). Agent-based models have been applied to explain stylized facts of labor markets as well as for labor market policy evaluations. They also constitute a major part in agent-based m...

Computational features of agent-based models

Agent-based modelling allows the description of very complex systems. To run large scale simulations of agent-based models in a reasonable time, it is crucial to carefully design data structures and algorithms. We describe the main computational features of agent-based models and report about the solutions we adopted in two applications: the simulation of the immune system response and the simu...

Market Design Using Agent-Based Models

This chapter explores the state of the emerging practice of designing markets by the use of agent-based modeling, with special reference to electricity markets and computerized (on-line) markets, perhaps including real-life electronic agents as well as human traders. The paper first reviews the use of evolutionary and agent-based techniques of analyzing market behaviors and market mechanisms, a...

Computational Laboratories for Spatial Agent - Based Models