Advances in the Agent-Based Modeling of Economic and Social Behavior

Mitja Steinbacher, Matthias Raddant, Fariba Karimi, Eva Camacho-Cuena, Simone Alfarano, Giulia Iori and Thomas Lux

MPRA Paper from University Library of Munich, Germany

Abstract: In this survey we discuss advances in the agent-based modeling of economic and social systems. We present the state of the art in the heuristic design of agents and the connections to the results from laboratory experiments on agent behavior. We further discuss how large-scale social and economic systems can be modeled and highlight novel methods and data sources. At last we present an overview of estimation techniques to calibrate and validate agent-based models.

Keywords: agent-based models; heuristic design; model calibration; behavioral economics; computational social science; computational economics (search for similar items in EconPapers)
JEL-codes: B41 C60 D90 G17 L20 (search for similar items in EconPapers)
Date: 2021-01
New Economics Papers: this item is included in nep-cmp, nep-exp, nep-hme and nep-ore
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Journal Article: Advances in the agent-based modeling of economic and social behavior (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:107317

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