Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
Hostname: page-component-cd9895bd7-p9bg8 Total loading time: 0 Render date: 2024-12-25T04:42:53.244Z Has data issue: false hasContentIssue false
Series:   Elements in Complexity and Agent-based Economics

Agent­-Based Modelling

A Tool for Complexity

Published online by Cambridge University Press:  26 November 2024

Giacomo Gallegati ,
Mauro Gallegati  and
Simone Landini
Giacomo Gallegati
Affiliation:
Université Paris 1 Panthéon-Sorbonne
Mauro Gallegati
Affiliation:
Marche Polytechnic University
Simone Landini
Affiliation:
IRES Piemonte

Summary

This Element works as non-technical overview of Agent-Based Modelling (ABM), a methodology which can be applied to economics, as well as fields of natural and social sciences. This Element presents the introductory notions and historical background of ABM, as well as a general overview of the tools and characteristics of this kind of models, with particular focus on more advanced topics like validation and sensitivity analysis. Agent-based simulations are an increasingly popular methodology which fits well with the purpose of studying problems of computational complexity in systems populated by heterogeneous interacting agents.
Get access

Keywords

agentnetworkssimulation platformsvalidationsensitivity analysis
Type
Element
Information
Series: Elements in Complexity and Agent-based Economics
Online ISBN: 9781009547628
Publisher: Cambridge University Press
Print publication: 02 January 2025

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Abar, S., Theodoropoulos, G. K., Lemarinier, P., and O’Hare, G. M., (2017), Agent Based Modelling and Simulation Tools: A Review of the State-of-Art Software, Computer Science Review, 24: 13–33.CrossRefGoogle Scholar
Allan, R. J., (2010), Survey of Agent Based Modelling and Simulation Tools (Technical report, ISSN 1362-0207), Science & Technology Facilities Council, https://epubs.stfc.ac.uk/manifestation/5601/DLTR-2010-007.pdf.Google Scholar
Arrow, K. J., and Debreu, G., (1954), Existence of an Equilibrium for a Competitive Economy, Econometrica, 22(3): 265–290.CrossRefGoogle Scholar
Arthur, W. B., (2021), Foundations of Complexity Economics, Nature Reviews Physics, 3: 136–145.CrossRefGoogle ScholarPubMed
Assenza, T., and Delli Gatti, D., (2013), E Pluribus Unum: Macroeconomic Modelling for Multi-agent Economies, Journal of Economic Dynamics and Control, 37(8): 1659–1682.CrossRefGoogle Scholar
Assenza, T., Delli Gatti, D., and Grazzini, J., (2015), Emergent Dynamics of a Macroeconomic Agent-Based Model with Capital and Credit, Journal of Economic Dynamics and Control, 50(C): 5–28.CrossRefGoogle Scholar
Axelrod, R., (1997), The Complexity of Cooperation: Agent-Based Models of Competition and Collaboration, Princeton University Press.CrossRefGoogle Scholar
Axtell, R. L., and Farmer, J. (2023), Agent-Based Modelling in Economics and Finance: Past, Present and Future, Journal of Economic Literature. www.aeaweb.org/articles?id=10.1257/jel.20221319&from=f.Google Scholar
Bădică, C., Budimac, Z., Burkhard, H. D., and Ivanović, M. (2011). Software Agents: Languages, Tools, Platforms, Computer Science and Information Systems, 8(2): 255–298.CrossRefGoogle Scholar
Bak, P., Paczuski, M., and Shubik, M., (1996), Price Variations in a Stock Market with Many Agents, Physica A: Statistical Mechanics and its Applications, 246(3–4): 430–453.CrossRefGoogle Scholar
Ballot, G., Mandel, A., and Vignes, A., (2015), Agent-Based Modeling and Economic Theory: Where Do We Stand?, Introduction to the Special Issue of the 17th WEHIA Conference, Journal of Economic Interaction and Coordination, 10: 199–220.CrossRefGoogle Scholar
Bargigli, L., (2017), Econometric Methods or Agent-Based Model, in Gallegati, M., Palestrini, A., and Russo, A., et al., (eds.), Introduction to Agent-Based Economics, Academic Press: 163–189.CrossRefGoogle Scholar
Bellomo, N., Bingham, R., Chaplain, M. A. J., Dosi, G., Forni, G., Knopoff, D. A., Lowengrub, J., Twarock, R. and Virgillito, M. E., (2020), A Multiscale Model of Virus Pandemic: Heterogeneous Interactive Entities in a Globally Connected World, Mathematical Models and Methods in Applied Sciences, 30(8): 1591–1651.CrossRefGoogle Scholar
Bergmann, B., (1974), A Microsimulation of the Macroeconomy with Explicitly Represented Money Flows, Annals of Economic and Social Measurement, 3(3): 475–479.Google Scholar
Bianchi, C., Cirillo, P., Gallegati, M., and Vagliasindi, P. A., (2008), Validation in Agent-Based Models: An Investigation on the CATS Model, Journal of Economic Behavior and Organization, 67(3–4): 947–964.CrossRefGoogle Scholar
Billari, F. C., Fent, T., Prskawetz, A., and Scheffran, J., (2006), Agent-Based Computational Modelling: An Introduction, in Billari, F. C., Fent, T., Prskawetz, A., and Scheffran, J. (eds.), Agent-Based Computational Modelling: Applications in Demography, Social, Economic and Environmental Sciences, Physica: 1–16.CrossRefGoogle Scholar
Bonabeau, E., (2002), Agent-Based Modeling: Methods and Techniques for Simulating Human Systems, PNAS, 99(3): 7280–7287.CrossRefGoogle ScholarPubMed
Bookstaber, R., (2017), The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction, Princeton University Press.Google Scholar
Bookstaber, R., and Kirman, A. P., (2018), Modeling a Heterogeneous World, in Hommes, C., and LeBaron, J., (eds.), Handbook of Computational Economics, Vol. 4, Chp. 14, pp. 769–795, Elsevier.Google Scholar
Bordini, R., Braubach, L., Dastani, M., Seghrouchni, A., Gomez-Sanz, J., Leite, J., O’Hare, G., Pokahr, A., and Ricci, A. (2006). A Survey of Programming Languages and Platforms for Multi-Agent Systems, Informatica, 30: 33–44.Google Scholar
Borgonovo, E., Pangallo, M., Rivkin, J., Rizzo, L., and Siggelkow, N., (2022), Sensitivity Analysis of Agent-Based Models: A New Protocol, Computational and Mathematical Organization Theory; DOI: https://doi.org/10.1007/s10588-021-09358-5.CrossRefGoogle Scholar
Borrill, P. L., and Tesfatsion, L., (2010), Agent-Based Modeling: The Right Mathematics of the Social Sciences?, WP 10023, Iowa State University.Google Scholar
Brancaccio, E., Gallegati, M., and Giammetti, R., (2021), Neoclassical Influences in Agent-Based Literature: A Systematic Review, Journal of Economic Surveys, 36: 350–385.CrossRefGoogle Scholar
Bratman, M. E., (1987), Intention, Plans and Practical Reason, Harvard University Press.Google Scholar
Caiani, A., and Caverzasi, E. (2017), Decentralized Interacting Macroeconomcs and the Agent-Based ‘Modellaccio’, in Gallegati, M., Palestrini, A., and Russo, A., (eds.), Introduction to Agent-Based Economics, Academic Press: 15–64.CrossRefGoogle Scholar
Caiani, A., Godin, A., Caverzasi, E., Gallegati, M., Kinsella, S., and Stiglitz, J. E., (2016), Agent-Based Stock-Flow Consistent Macroeconomics: Towards a Benchmark Model, Journal of Economic Dynamics and Control, 69: 375–408.CrossRefGoogle Scholar
Caldarelli, G. (2010), Complex Networks, UNESCO-EOLSS. www.eolss.net/ebooklib/bookinfo/complex-networks.aspx.Google Scholar
Caldarelli, G., and Catanzaro, M., (2012), Networks: A Very Short Introduction, Oxford University Press.CrossRefGoogle Scholar
Caldarelli, G., and Chesa, A., (2016), Data Science and Complex Networks: Real Case Studies with Python, Oxford University Press.CrossRefGoogle Scholar
Casti, J., (1979), Connectivity, Complexity and Catastrophes in Large-Scale Systems, John Wiley & Sons.Google Scholar
Cincotti, S., Raberto, M., and Teglio, A., (2010), Credit Money and Macroeconomic Instability in the Agent-Based Model and Simulator Economics, Economics: The Open Access, Open Assessment E-Journal, 4. www.economics-ejournal.org/economics/discussionpapers/2010-4.Google Scholar
Cincotti, S., Raberto, M., and Teglio, A., (2012), The EURACE Macroeconomics Model and Simulator, in Agent-based Dynamics, Norms, and Corporate Governance, The Proceedings of the 16th World Congress of the International Economic Association, Palgrave Macmillan.Google Scholar
Cioffi-Revilla, C., (2017), Introduction to Computational Social Science: Principles and Applications, Springer.CrossRefGoogle Scholar
Colasante, A., (2017), Experimental Economics for ABM Validation, in Gallegati, M., Palestrini, A., and Russo, A., et al., (eds.), Introduction to Agent-Based Economics, Academic Press.Google Scholar
Dawid, H., Gemkow, S., Harting, P., van der Hoog, S., and Neugart, M., (2018), Agent-Based Macroeconomic Modeling and Policy Analysis: The Eurace@Unibi Model, in Chen, S.-H., Kaboudan, M., Du, Y.-R., (eds.), The Oxford Handbook of Computational Economics and Finance, Oxford University Press: 490–519.Google Scholar
Delli Gatti, D., Desiderio, S., Gaffeo, E., Cirillo, P., and Gallegati, M., (2011), Macroeconomics From the Bottom-Up, Springer.CrossRefGoogle Scholar
Delli Gatti, D., Di Guilmi, C., Gaffeo, E., Giulioni, G., Gallegati, M., and Palestrini, A., (2005), A New Approach to Business Fluctuations: Heterogeneous Interacting Agents, Scaling Laws and Financial Fragility, Journal of Economic Behavior and Organization, 56(4): 489–512.CrossRefGoogle Scholar
Delli Gatti, D., Fagiolo, G., Gallegati, M., Richiardi, M., and Russo, A., (2018), Agent-Based Models in Economics: A Toolkit, Cambridge University Press.Google Scholar
Delli Gatti, D., Gaffeo, E., and Gallegati, M., (2010). Complex Agent-Based Macroeconomics: A Manifesto for a New Paradigm, Journal of Economic Interaction and Coordination, 5(2): 111–135.CrossRefGoogle Scholar
Delli Gatti, D., Gaffeo, E., Gallegati, M., Giulioni, G., Kirman, A. P., Palestrini, A., and Russo, A., (2007), Complexity Dynamics and Empirical Evidence, Information Science, 177(5): 1204–1221.CrossRefGoogle Scholar
Di Guilmi, C., Landini, S., and Gallegati, M., (2017), Interactive Macroeconomics: Stochastic Aggregate Dynamics with Heterogeneous and Interacting Agents, Cambridge University Press.Google Scholar
Dosi, G. (2023). The Foundations of Complex Evolving Economies. Oxford University Press.CrossRefGoogle Scholar
Dosi, G., Fagiolo, G., and Roventini, A., (2010), Schumpeter Meeting Keynes: A Policy-Friendly Model of Endogenous Growth and Business Cycle, Journal of Economic Dynamics and Control, 34(9): 1748–1767.CrossRefGoogle Scholar
Dosi, G., Fagiolo, G., Napoletano, M., and Roventini, A., (2013), Income Distribution, Credit and Fiscal Policies in an Agent-Based Keynesian Model, Journal of Economic Dynamics and Control, 37(8): 1598–1625.CrossRefGoogle Scholar
Epstein, J. M., and Axtell, R. L., (1996), Growing Artificial Societies: Social Science from the Bottom Up. Massachusetts Institute of Technology Press.CrossRefGoogle Scholar
Fagiolo, G., and Richiardi, M., (2018), Empirical Validation of Agent-Based Models, in Delli Gatti, D., Fagiolo, G., Gallegati, M., Richiardi, M., and Russo, A., (eds.), Agent-Based Models in Economics: A Toolkit, Cambridge University Press.Google Scholar
Farmer, D. J., and Foley, D. K., (2009), The Economy Needs Agent-Based Modeling, Nature, 460(7256): 685–686.CrossRefGoogle Scholar
Frank, U., Squazzoni, F., and Troitzsch, K. G., (2009), EPOS-Epistemological Perspectives on Simulation: An Introduction, in Squazzoni, F. (ed.), Epistemological Aspects of Computer Simulation in the Social Sciences. EPOS 2006. Lecture Notes in Computer Science, vol. 5466. Springer. DOI: https://doi.org/10.1007/978-3-642-01109-2_1.CrossRefGoogle Scholar
Friedman, M., (1953), Essays in Positive Economics, University of Chicago Press.Google Scholar
Gallegati, M., and Kirman, A. P., (2019), 20 Years of WEHIA: A Journey in Search of a Safer Road, Journal of Economic Behavior and Organization, 157(C): 5–14.CrossRefGoogle Scholar
Gardner, M., (1970), The Fantastic Combinations of John Conway’s New Solitaire Game ‘life’, Mathematical Games, Scientific American, 223(4): 120–123.CrossRefGoogle Scholar
Ghanem, M., Higdon, D., and Owhadi, H., (2017), Handbook of Uncertainty Quantification, Springer.CrossRefGoogle Scholar
Gilbert, N., (2020), Agent-Based Models, SAGE Publications Series, n. 153,CrossRefGoogle Scholar
Gilbert, N., and Troitzsch, K. G., (1999), Simulation for the Social Scientist, Open University Press.Google Scholar
Giordano, G., Blanchini, F., Bruno, R., Colaneri, P., Di Filippo, A., Di Matteo, A., and Colaneri, M., (2020), Modelling the COVID-19 Epidemic and Implementation of Population-wide Interventions in Italy, Nature Medicine Letters, www.nature.com/articles/s41591-020-0883-7.Google Scholar
Granato, B., and Li-Jessen, N. Y. K., (2020), Sensitivity Analysis for Dimensionality Reduction in Agent-Based Modeling, Proceedings of the 24th European Conference on AI – ECAI 2020 At: Santiago de Compostela, Spain. https://ecai2020.eu/papers/1396_paper.pdf.Google Scholar
Grazzini, J., and Richiardi, M., (2015), Estimation of Agent-Based Models by Simulated Minimum Distance, Journal of Economic Dynamics and Control, 51: 148–165.CrossRefGoogle Scholar
Greenblat, C. S., (1971), Simulation, Games, and the Sociologist, The American Sociologist, 6: 161–164.Google Scholar
Hamil, L., and Gilbert, N., (2016), Agent-Based Modelling in Economics, John Wiley & Sons, Ltd.Google Scholar
Holland, J., and Miller, J. H., (1991), Artificial Adaptive Agents in Economic Theory, The American Economic Review, Papers and Proceedings of the Hundred and Third Annual Meeting of the American Economic Association (May), 81(2): 365–370.Google Scholar
Hommes, C., (2013), Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems, Cambridge University Press.CrossRefGoogle Scholar
Hommes, C., Poledna, S., and Zahng, Y., (2021), Next-Generation Agent-Based Model of Canada (CAN-ABM). www.bankofcanada.ca/wp-content/uploads/2021/11/agent-based-model-canada-yang-zhang.pdf.Google Scholar
Ioannides, Y. M. (1990), Trading Uncertainty and Market Form, International Economic Review, 31(3): 619–638.CrossRefGoogle Scholar
Jacobs, B. I., Levy, K. N., and Markowitz, H. M., (2004), Financial Market Simulation. Journal of Portfolio Management, 30th Anniversary Issue: 142–151.CrossRefGoogle Scholar
Kim, G., and Markowitz, H. M., (1989), Investment Rules, Margin and Market Volatility, Journal of Portfolio Management, 16(1): 45–52.Google Scholar
Kirman, A. P., (1983), Communication in Markets: A Suggested Approach, Economics Letters, 12: 1–5.CrossRefGoogle Scholar
Kirman, A. P., (1999), Interaction and Markets, in Gallegati, M., and Kirman, A. P., (eds.), Beyond the Representative Agent, Edward Elgar.Google Scholar
Kirman, A. P., Oddou, C., and Weber, S., (1986), Stochastic Communication and Coalition Formation, Econometrica, 54: 129–138.CrossRefGoogle Scholar
Knoke, D., and Yang, S. (2019), Social Network Analysis, SAGE Publications.Google Scholar
Kravari, K., and Bassiliades, N. (2015). A Survey of Agent Platforms, Journal of Artificial Societies and Social Simulation, 18(1): 11, http://jasss.soc.surrey.ac.uk/18/1/11.html, DOI: https://doi.org/10.18564/jasss.2661.CrossRefGoogle Scholar
Krešimir, R., Rosić, M., and Boljat, I., (2020) A Survey of Agent-Based Modelling and Simulation Tools for Educational Purpose, Technical Gazette 27, 3(2020): 1014–1020; retrieved January 2022 from https://hrcak.srce.hr/file/347094.Google Scholar
Landini, S., and Gallegati, M., (2014), Heterogeneity, Interaction and Emergence: Effects of Composition, International Journal of Computational Economics and Econometrics, 4(3/4): 339–361.CrossRefGoogle Scholar
Landini, S., Gallegati, G., and Gallegati, M., (2024), Complexity in Economics, Cambridge Elements in Complexity and Agent-based Economics, Cambridge University Press.Google Scholar
Landini, S., Gallegati, M., and Rosser, B. Jr, (2020) Consistency and Incompleteness in General Equilibrium Theory, Journal of Evolutionary Economics, 30: 205–230.CrossRefGoogle Scholar
Landini, S., Gallegati, M., and Stiglitz, J. E., (2015), Economies with Heterogeneous Interacting Learning Agents, Journal of Economic Interaction and Coordination, 10(1): 91–118; 13.CrossRefGoogle Scholar
Landini, S., Gallegati, M., Stiglitz, J. E., Xhiao, L., and Di Guilmi, C., (2014), Learning and Macroeconomic Dynamics, in Dieci, R., He, T., and Hommes, C., (eds.), Advances in Nonlinear Economic Dynamics and Quantitative Finance, Essays in Honour of Carl Chiarella, Springer: 109–134.Google Scholar
Langton, C., (1995), Artificial Life: An Overview. Massachusetts Institute of Technology Press.CrossRefGoogle Scholar
Leamer, E. E., (1985), Sensitivity Analyses Would Help, The American Economic Review, 75(3): 308–313.Google Scholar
LeBaron, B., and Tesfatsion, L., (2008), Modeling Macroeconomies as Open-Ended Dynamic Systems of Interacting Agents, American Economic Review, 98(2): 246–250.CrossRefGoogle Scholar
Leon, F., Paprzycki, M., and Ganzha, M. (2015). A Review of Agent Platforms. Technical Report, MultiParadigm Modelling for Cyber-Physical Systems (MPM4CPS), ICT COST Action IC1404, 16 pages, updated June 2018, DOI: https://doi.org/10.13140/RG.2.2.32356.76167CrossRefGoogle Scholar
Luke, S., Cioffi-Revilla, C., Panait, L., Sullivan, K., and Balan, G., (2005), MASON: A Multi-Agent Simulation Environment. Simulation: Transactions of the Society for Modeling and Simulation International, 82(7): 517–527.CrossRefGoogle Scholar
Macal, C. M., (2004), Agent-Based Modeling and Social Simulation with Mathematica and MATLAB, in Proceedings of the Agent 2004 Conference on Social Dynamics: Interaction, Reflexivity and Emergence, ANL/DIS-05–6, Macal, C. M., Sallach, D., and North, M. J. (eds.), co-sponsored by Argonne National Laboratory and The University of Chicago, October 7–9.Google Scholar
Minar, N., Burkat, R., Langton, G., and Sakenzi, M., (1996), The Swarm Simulation System: A Toolkit for Building Multi-Agent Simulations, Tech. Rep., WP96-06–042, Santa Fe Institute.Google Scholar
Morton, D., and Tejada, J., (2013), A Practical Guide to Sensitivity Analysis of a Large-Scale Computer Simulation Model, South Texas Project Risk-Informed GSI-191 Evaluation, https://jjtejada.files.wordpress.com/2014/01/sensitivity_analysis_with_appendix.pdf.Google Scholar
North, M. J., (2014), A Theoretical Formalism for Analyzing Agent-Based Models, Complex Adaptive Systems, 2: 3.CrossRefGoogle Scholar
North, M. J., Collier, N. T., and Vos, J. R., (2006), Experiences Creating Three Implementations of the Repast Agent Modeling Toolkit, ACM Transactions on Modeling and Computer Simulation, 16(1): 1–25.CrossRefGoogle Scholar
Orcutt, G. H., (1957), A New Type of Socio-Economic System, The Review of Economics and Statistics, 39(2): 116–123.CrossRefGoogle Scholar
Pal, C. V., Leon, F., Paprzycki, M., and Ganzha, M., (2020), A Review of Platforms for the Development of Agent Systems. arXiv: https://arxiv.org/ftp/arxiv/papers/2007/2007.08961.pdf.Google Scholar
Palestrini, A., Gallegati, M., and Delli Gatti, D., (2021), Adaptive Agents May Be Smarter Than You Think: Unbiasedness in Adaptive Expectations, CESifo Working Paper No. 9205.Google Scholar
Parisi, G., (2006), La Chiave, la Luce e l’Ubriaco, Di Renzo Editore; second edition, 2021.Google Scholar
Pescarmona, G., Terna, P., Acquadro, A., Pescarmona, P., Russo, G., and Terna, S. (2020), How Can ABM Models Become Part of the Policy-Making Process in Times of Emergencies: The S.I.S.A.R. Epidemic Model, https://rofasss.org/2020/10/20/sisar/.Google Scholar
Platt, D., (2020), A Comparison of Economic Agent-Based Model Calibration Methods, Journal of Economic Dynamic and Control, 113(C): 103859.CrossRefGoogle Scholar
Poledna, S., Miess, M. G., and Hommes, C. H., (2020), Economic Forecasting with an Agent-Based Model (February 24, 2020). SSRN: https://ssrn.com/abstract=3484768 or http://dx.doi.org/10.2139/ssrn.3484768.CrossRefGoogle Scholar
Railsback, S. F, and Grimm, V., (2019), Agent-Based and Individual-Based Modeling: A Practical Introduction, Princeton University Press.Google Scholar
Rand, W., and Rust, R. T., (2011), Agent-Based Modelling in Marketing: Guidelines of Rigor, International Journal of Research in Marketing, 28(3): 181–193.CrossRefGoogle Scholar
Reichardt, J., (2009), Structures in Complex Networks, Springer.Google Scholar
Reynolds, C. W., (1987), Flocks, Herds, and Schools: A Distributed Behavioral Model, ACM SIGGRAPH Computer Graphics, 21(4): 25–34.CrossRefGoogle Scholar
Riccetti, L., Russo, A., and Gallegati, M., (2015), An Agent Based Decentralized Matching Macroeconomic Model, Journal of Economic Interaction and Coordination, 10(2): 305–332.CrossRefGoogle Scholar
Richiardi, M., (2018), Estimation of Agent-Based Models, in Delli Gatti, D., Fagiolo, G., Gallegati, M., Richiardi, M., and Russo, A., (eds.), Agent-Based Models in Economics. A Toolkit, Cambridge University Press.Google Scholar
Rosen, R., (1985), Anticipatory Systems: Philosophical, Mathematical and Methodological Foundations, Pergamon Press.Google Scholar
Rosen, R., (1986), On Information and Complexity, in Casti, J. L., and Kerlqvist, A., (eds.), Complexity, Mathematics and Life: Mathematical Approaches, Biomathematics, Vol. 16. DOI: https://doi.org/10.1007/978-3-642-70953-1_7.Google Scholar
Rosser, J. B. Jr., (2021), Foundations and Applications of Complexity Economics, Springer Nature Switzerland.CrossRefGoogle Scholar
Russo, A., Riccetti, L., and Gallegati, M., (2016), Increasing Inequality, Consumer Credit and Financial Fragility in an Agent Based Macroeconomic Model, Journal of Evolutionary Economics, 26(1): 25–47.CrossRefGoogle Scholar
Saltelli, A., Aleksankina, K., Becker, W., Fennell, P., Ferretti, F., Holst, N., Li, S., and Wu, Q., (2019), Why so many published sensitivity analyses are false: A systematic review of sensitivity analysis practices, Environmental Modelling & Software, 114: 29–39.CrossRefGoogle Scholar
Saltelli, A., Ratto, M., Andres, T., Campolongo, F., Cariboni, J., Gatelli, D., Saisana, M., and Tarantola, S., (2008), Global Sensitivity Analysis: The Premier, Wiley-Interscience.Google Scholar
Saltelli, A., Tarantola, S., Campolongo, F., and Ratto, M., (2004), Sensitivity Analysis in Practice: A Guide to Assessing Scientific Models, John Wiley and Sons.Google Scholar
Sargent, T., (1993), Bounded Rationality in Macroeconomics, Oxford University Press.CrossRefGoogle Scholar
Schelling, T. C., (1971), Dynamic Models of Segregation, The Journal of Mathematical Sociology, 1(2): 143–186.CrossRefGoogle Scholar
Scott, J., and Carrington, P. J., (2011), The SAGE Handbook of Social Network Analysis, SAGE Publications.Google Scholar
Simon, H., (1957), A Behavioral Model of Rational Choice, in Models of Man, Social and Rational: Mathematical Essays on Rational Human Behavior in a Social Setting, Wiley.Google Scholar
Simon, H., (1963), Testability and Approximation, in Hausman, D., (ed.), The Philosophy of Economics, Cambridge University Press: 179–182.Google Scholar
Sobol, I. M., (2001), Global Sensitivity Indices for Nonlinear Mathematical Models and Their Monte Carlo Estimates, Mathematics and Computers in Simulation, 55(1–3): 271–280.CrossRefGoogle Scholar
Solow, R., and Hanh, F., (1997), A Critical Essay on Modern Macroeconomic Theory, Massachusetts Institute of Technology Press.Google Scholar
Squazzoni, F., (2010), The Impact of Agent-Based Models in the Social Sciences: After 15 Years of Incursion, History of Economic Ideas, 18(2): 197–233.Google Scholar
Standish, R. K., and Leow, R. (2003), EcoLab: Agent Based Modeling for C++ Programmers, in Proceedings SwarmFest 2003. arXiv:cs.MA/0401026.Google Scholar
ten Broecke, G., van Voorn, G., and Ligtenberg, A., (2016), Which Sensitivity Analysis Method Should I Use for My Agent-Based Model? Journal of Artificial Science and Social Simulation, 19(1): 5; www.jasss.org/19/1/5.html.CrossRefGoogle Scholar
Terna, P., (2019), SLAPP (Swarm-Like Protocol in Python) Reference Handbook; https://terna.github.io/SLAPP3/SLAPP_Reference_Handbook.pdf.Google Scholar
Tesfatsion, L., (2021), Agent-Based Computational Economics: Overview and Brief History; https://dr.lib.iastate.edu/entities/publication/0e69f7c9-ad39-45b1-bcd7-3ba2023d6192.Google Scholar
Tesfatsion, L., and Judd, K., (2006), Handbook of Computational Economics: Agent-Based Computational Economics: 2, North-Holland.Google Scholar
Turrell, A., (2013), Agent-Based Models: Understanding the Economy from the Bottom Up, Quarterly Bulletin 2016 Q4, Bank of England, https://www.bankofengland.co.uk/quarterly-bulletin/2016/q4/agent-based-models-understanding-the-economy-from-the-bottom-up.Google Scholar
von Neumann, J., (1951), The General and Logical Theory of Automata, in Jeffress, L. A., (ed.), Cerebral Mechanisms in Behavior – The Hixon Symposium, John Wiley & Sons, pp. 1–31.Google Scholar
Wasserman, S., and Faust, K., (2008), Social Network Analysis: Methods and Applications, Cambridge University Press.Google Scholar
Wilensky, U., and Rand, W., (2015), An Introduction to Agent-Based Modeling: Modeling Natural, Social, and Engineered Complex Systems with NetLogo, Massachusetts Institute of Technology Press.Google Scholar
Wilensky, U., (1999–2019), Types of Agents in NetLogo, The Center for Connected Learning and Computer-Based Modeling (CCL). Northwestern University.Google Scholar
Windrum, P., Fagiolo, G., and Moneta, A., (2007), Empirical Validation of Agent-Based Models: Alternatives and Prospects, Journal of Artificial Societies and Social Simulation, 10(2): 8.Google Scholar

Save element to Kindle

To save this element to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Agent­-Based Modelling
Available formats
×

Save element to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Agent­-Based Modelling
Available formats
×

Save element to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Agent­-Based Modelling
Available formats
×