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Agent-based computational economics: a short introduction

Published online by Cambridge University Press:  26 April 2012

Matteo G. Richiardi
Matteo G. Richiardi*
Affiliation:
Department of Economics, University of Turin, via Po 53, 10124 Italy Collegio Carlo Alberto - LABORatorio Revelli, via Real Collegio 30, 10024 Moncalieri, Italy; e-mail: [email protected]
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Abstract

In this paper we provide a brief overview of the main characteristics of agent-based computational economics. We discuss its points of strength, with respect to analytical models, and its weaknesses. The latter are mainly related to how the results of a simulation model can be interpreted, and how the structural parameters of the model can be estimated. We then show how these problems can be dealt with.

Type
Articles
Information
The Knowledge Engineering Review , Volume 27 , Special Issue 2: Agent-Based Computational Economics , 26 April 2012 , pp. 137 - 149
Copyright
Copyright © Cambridge University Press 2012

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