Book contents
- Frontmatter
- Contents
- List of Illustrations
- List of Tables
- Notes on Contributors
- Introduction
- Part One Theory
- Part Two Model
- 3 A Computable Market Model: The Structure of the Agent-Based Simulation
- 4 The Results of the Simulation Agent-Based Model, in SMAC and ASHAM Modes
- 5 The Model Facing Empirical Data
- Conclusions
- Appendices
- References
- Author Index
- Subject Index
3 - A Computable Market Model: The Structure of the Agent-Based Simulation
from Part Two - Model
Published online by Cambridge University Press: 07 December 2019
Book contents
- Frontmatter
- Contents
- List of Illustrations
- List of Tables
- Notes on Contributors
- Introduction
- Part One Theory
- Part Two Model
- 3 A Computable Market Model: The Structure of the Agent-Based Simulation
- 4 The Results of the Simulation Agent-Based Model, in SMAC and ASHAM Modes
- 5 The Model Facing Empirical Data
- Conclusions
- Appendices
- References
- Author Index
- Subject Index
Summary
Starting from the equation based construction introduced previously, we builda macroeconomic simulation model of an economic using the agent-based technique; the model is micro-founded and so our explanation starts from the behavior of the agents and of the market frameworks where they behave. The structure of the simulation model is well represented via the sequence oftwelve items. Starting from the model outline reported in the Outline, we develop a detailed description of the steps the simulation undertakes over the time, with the actions of the different kind of agents.
- Type
- Chapter
- Information
- Rethinking Macroeconomics with Endogenous Market Structure , pp. 77 - 105Publisher: Cambridge University PressPrint publication year: 2019