Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/287542 
Year of Publication: 
2021
Citation: 
[Journal:] SN Business & Economics [ISSN:] 2662-9399 [Volume:] 1 [Issue:] 7 [Publisher:] Springer International Publishing [Place:] Cham [Year:] 2021
Publisher: 
Springer International Publishing, Cham
Abstract: 
In this review we discuss advances in the agent-based modeling of economic and social systems. We show the state of the art of the heuristic design of agents and how behavioral economics and laboratory experiments have improved the modeling of agent behavior. We further discuss how economic networks and social systems can be modeled and we discuss novel methodology and data sources. Lastly, we present an overview of estimation techniques to calibrate and validate agent-based models and show avenues for future research.
Subjects: 
Agent-based models
Heuristic design
Model calibration
Networks
Behavioral economics
Computational social science
Computational economics
JEL: 
B41
C60
D90
E70
G17
G40
L20
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

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