© 2014

Econophysics of Agent-Based Models

  • Frédéric Abergel
  • Hideaki Aoyama
  • Bikas K. Chakrabarti
  • Anirban Chakraborti
  • Asim Ghosh
Conference proceedings

Part of the New Economic Windows book series (NEW)

Table of contents

  1. Front Matter
    Pages I-VIII
  2. Agent-Based Models

    1. Front Matter
      Pages 1-1
    2. Asim Ghosh, Anindya S. Chakrabarti, Anjan Kumar Chandra, Anirban Chakraborti
      Pages 99-129
    3. Krishanu Roy Chowdhury, Asim Ghosh, Soumyajyoti Biswas, Bikas K. Chakrabarti
      Pages 131-143
  3. Miscellaneous

    1. Front Matter
      Pages 145-145
    2. Matthieu Cristelli, Andrea Tacchella, Luciano Pietronero
      Pages 147-159
    3. Hideaki Aoyama
      Pages 219-228
    4. Mirta B. Gordon, Jean-Pierre Nadal, Denis Phan, Viktoriya Semeshenko
      Pages 229-232
  4. Discussions and Commentary on Econophysics

    1. Front Matter
      Pages 233-233
    2. Kishore C. Dash
      Pages 235-285
    3. Asim Ghosh, Anindya S. Chakrabarti
      Pages 287-297
    4. Hideaki Aoyama
      Pages 299-302

About these proceedings


The primary goal of this book is to present the research findings and conclusions of physicists, economists, mathematicians and financial engineers working in the field of "Econophysics" who have undertaken agent-based modelling, comparison with empirical studies and related investigations.
Most standard economic models assume the existence of the representative agent, who is “perfectly rational” and applies the utility maximization principle when taking action. One reason for this is the desire to keep models mathematically tractable: no tools are available to economists for solving non-linear models of heterogeneous adaptive agents without explicit optimization. In contrast, multi-agent models, which originated from statistical physics considerations, allow us to go beyond the prototype theories of traditional economics involving the representative agent. This book is based on the Econophys-Kolkata VII Workshop, at which many such modelling efforts were presented. In the book, leading researchers in their fields report on their latest work, consider recent developments and review the contemporary literature.


Agent Based Modelling Agent-based Models Complex Systems Econophys-Kolkata VII Econophysics Reviewed Multi-agent Modelling Multi-agent Models

Editors and affiliations

  • Frédéric Abergel
    • 1
  • Hideaki Aoyama
    • 2
  • Bikas K. Chakrabarti
    • 3
  • Anirban Chakraborti
    • 4
  • Asim Ghosh
    • 5
  1. 1.École Centrale Paris Lab. Mathematics Applied to SystemsChâtenay-MalabryFrance
  2. 2.Kyoto University Department of PhysicsKyotoJapan
  3. 3.Saha Institute of Nuclear PhysicsKolkataIndia
  4. 4.AppliquéesÉcole Centrale Paris Lab. Mathematics Applied to SystemsChâtenay-MalabryFrance
  5. 5.Saha Institute of Nuclear Physics TCMPKolkataIndia

About the editors

Anirban Chakraborti

Frédéric Abergel
1992 Habilitation à diriger des recherches, département de Mathématiques,
Université Paris XI
1986 PhD in Mathematics, Université Paris XI and École Normale
1981-1985 École Normale Supérieure

Bikas K. Chakrabarti

Bibliographic information


From the book reviews:

“The book is loosely divided into three sections. … At their best, econophysics papers provide new insights into social science problems and new modeling technologies. … I do think that agent-based modelers, particularly those who deal with others in the natural sciences from time to time, may find it a useful update on where this field is and where it is going. It does have something to say to those of us in this community.” (Blake LeBaron, Journal of Economic Literature, Vol. 52 (3), September, 2014)