Charlotte Bruun (auth.), Francesco Luna, Alessandro Perrone's Agent-Based Methods in Economics and Finance: Simulations in PDF

Economics

By Charlotte Bruun (auth.), Francesco Luna, Alessandro Perrone (eds.)

ISBN-10: 146135238X

ISBN-13: 9781461352389

ISBN-10: 1461507855

ISBN-13: 9781461507857

This moment e-book on monetary and financial simulations in Swarm marks the ongoing growth via a bunch of researchers to include agent-based machine types as a major software inside their disciĀ­ pline. it truly is encouraging to determine the sort of transparent instance of Swarm supporting to foster a neighborhood of clients who depend upon the Swarm framework for his or her personal analyses. Swarm goals at legitimizing agent-based computing device types as a device for the examine of complicated structures. an extra objective is universal base framework will bring about the expansion of person groups in particular components of software. through offering an organizing framework to lead the improvement of extra problem-specific buildings, and through facing an entire diversity of matters that impact their basic correctness and their skill to be built and reused, Swarm has sought to make using agent-based types a sound device of medical research that still meets the sensible wishes of investigators inside of a community.

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Extra resources for Agent-Based Methods in Economics and Finance: Simulations in Swarm

Sample text

In the implementation part of the abstract superclass, the implementation of some methods may be completely absent. In this case we talk about a virtual 14 ECONOMIC AND FINANCIAL SIMULATIONS IN SWARM or a template method. It is placed in the interface part of the abstract class, simply to remind the programmer that all subclasses of the abstract class must provide an implementation part for the given method. In this wayan interface is created that all subclasses must respect. Abstract classes may thus be characterized as skeletons or templates for making objects - and it is these templates that allow the user to add his own components to a framework.

In an economics framework it should be possible to implement such a simple model with only few lines of code. The simplicity of the model however also reveals an important aspect of simulation modeling, namely the method by which agents meet. Terna uses a list shuffling device similar to what is found in several other Swarm models. As shown by Huberman and Glance (1993), how updating takes place (synchronous or asynchronous) may be very important to the results obtained, and how agents meet is likely to be important as well.

Lane is advocating an artificial economy which is NOT a single parameterized model 4 , but an environment where different institutional arrangements can easily be implemented. The taxonomies and typologies are for taking more qualified decisions on institutional settings, and communicating the choices made. The artificial economy is where you implement the 8 ECONOMIC AND FINANCIAL SIMULATIONS IN SWARM choices. An "economics" framework for Swarm should encapsulate both of Lane's visions. The framework must include a collection of taxonomies and typologies, within which each individual element is provided with similar interfaces so that they are easily exchangeable.

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Agent-Based Methods in Economics and Finance: Simulations in Swarm by Charlotte Bruun (auth.), Francesco Luna, Alessandro Perrone (eds.)


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