New Economic Windows

Economics with Heterogeneous Interacting Agents

A Practical Guide to Agent-Based Modeling

Editors: Caiani, A., Russo, A., Palestrini, A., Gallegati, M. (Eds.)

  • Helps newcomers to master the required techniques without previous knowledge of the literature
  • Provides lecturers with a compendium of the materials needed to teach a graduate or doctoral course
  • Features all of the requisite complementary materials, including the source codes and software libraries used
  • Exercises and applications promote readers’ active learning
  • Fosters a more pluralistic view of the study of Economics
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eBook 95,19 €
price for Italia (gross)
  • ISBN 978-3-319-44058-3
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 119,59 €
price for Italia (gross)
  • ISBN 978-3-319-44056-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

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.

About the authors

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.

Reviews

“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) 


Table of contents (4 chapters)

  • Getting Started: The Aggregation Conundrums and Basic Toolkits of Agent Based Modeling

    Catullo, Ermanno (et al.)

    Pages 1-28

    Preview Buy Chapter 30,44 €
  • A Simple Model of Business Fluctuations with Heterogeneous Interacting Agents and Credit Networks

    Bargigli, Leonardo (et al.)

    Pages 29-102

    Preview Buy Chapter 30,44 €
  • Modeling Financial Markets in an Agent-Based Framework

    Grilli, Ruggero (et al.)

    Pages 103-155

    Preview Buy Chapter 30,44 €
  • Heavy-Tailed Distributions for Agent-Based Economic Modelling

    Clementi, Fabio

    Pages 157-190

    Preview Buy Chapter 30,44 €

Buy this book

eBook 95,19 €
price for Italia (gross)
  • ISBN 978-3-319-44058-3
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 119,59 €
price for Italia (gross)
  • ISBN 978-3-319-44056-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Economics with Heterogeneous Interacting Agents
Book Subtitle
A Practical Guide to Agent-Based Modeling
Editors
  • Alessandro Caiani
  • Alberto Russo
  • Antonio Palestrini
  • Mauro Gallegati
Series Title
New Economic Windows
Copyright
2016
Publisher
Springer International Publishing
Copyright Holder
Springer International Publishing Switzerland
eBook ISBN
978-3-319-44058-3
DOI
10.1007/978-3-319-44058-3
Hardcover ISBN
978-3-319-44056-9
Series ISSN
2039-411X
Edition Number
1
Number of Pages
XVIII, 205
Number of Illustrations and Tables
44 b/w illustrations, 6 illustrations in colour
Topics