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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: matteo.richiardi@unito.it
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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.

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Articles
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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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