We present an overview of some representative Agent-Based Models in
Economics. We discuss why and how agent-based models represent an important
step in order to explain the dynamics and the statistical properties of
financial markets beyond the Classical Theory of Economics. We perform a
schematic analysis of several models with respect to some specific key
categories such as agents' strategies, price evolution, number of agents, etc.
In the conclusive part of this review we address some open questions and future
perspectives and highlight the conceptual importance of some usually neglected
topics, such as non-stationarity and the self-organization of financial
markets.
%0 Generic
%1 Cristelli2011Critical
%A Cristelli, M.
%A Pietronero, L.
%A Zaccaria, A.
%D 2011
%K review critical-phenomena econophysics mobile-agents
%T Critical Overview of Agent-Based Models for Economics
%U http://arxiv.org/abs/1101.1847
%X We present an overview of some representative Agent-Based Models in
Economics. We discuss why and how agent-based models represent an important
step in order to explain the dynamics and the statistical properties of
financial markets beyond the Classical Theory of Economics. We perform a
schematic analysis of several models with respect to some specific key
categories such as agents' strategies, price evolution, number of agents, etc.
In the conclusive part of this review we address some open questions and future
perspectives and highlight the conceptual importance of some usually neglected
topics, such as non-stationarity and the self-organization of financial
markets.
@misc{Cristelli2011Critical,
abstract = {{We present an overview of some representative Agent-Based Models in
Economics. We discuss why and how agent-based models represent an important
step in order to explain the dynamics and the statistical properties of
financial markets beyond the Classical Theory of Economics. We perform a
schematic analysis of several models with respect to some specific key
categories such as agents' strategies, price evolution, number of agents, etc.
In the conclusive part of this review we address some open questions and future
perspectives and highlight the conceptual importance of some usually neglected
topics, such as non-stationarity and the self-organization of financial
markets.}},
added-at = {2019-06-10T14:53:09.000+0200},
archiveprefix = {arXiv},
author = {Cristelli, M. and Pietronero, L. and Zaccaria, A.},
biburl = {https://www.bibsonomy.org/bibtex/2d69e036ebe94c2f9608aefbbde98409d/nonancourt},
citeulike-article-id = {8531889},
citeulike-linkout-0 = {http://arxiv.org/abs/1101.1847},
citeulike-linkout-1 = {http://arxiv.org/pdf/1101.1847},
day = 10,
eprint = {1101.1847},
interhash = {133f28cc9c6973355de8530f877f78c9},
intrahash = {d69e036ebe94c2f9608aefbbde98409d},
keywords = {review critical-phenomena econophysics mobile-agents},
month = jan,
posted-at = {2011-07-26 11:51:12},
priority = {2},
timestamp = {2019-08-01T16:23:04.000+0200},
title = {{Critical Overview of Agent-Based Models for Economics}},
url = {http://arxiv.org/abs/1101.1847},
year = 2011
}