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Agent-based models of economic interactions

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Mathematical Modeling of Collective Behavior in Socio-Economic and Life Sciences

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Summary

The interdisciplinary field of econophysics has enjoyed recently a surge of activities especially with numerous agent-based models, which have led to a substantial development of this field. We review three main application areas of agent-based models in econophysics: order books, distributions of wealth in conservative economies, and minority games.

Portions of this text have been taken from Sec.IV of the review by A.C.et al.“Econophysics: Empirical facts and agent-based models”, arXiv:0909.1974.

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Acknowledgements

We are grateful to F. Abergel, A. Chatterjee, E. Heinsalu, I. Muni Toke, M.Patriarca, and V. Yakovenko for critical discussions and to all the collaborators whose work has been described.

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Authors and Affiliations

  1. Laboratoire de Mathématiques Appliquées aux Systèmes, Ecole Centrale Paris, 92290, Châtenay-Malabry, France

    Anirban Chakraborti

  2. Fachbereich 15 und WZMW, AG Computersimulation, Philipps-Universität Marburg, 35032, Marburg, Germany

    Guido Germano

  3. Dipartimento di Scienze Economiche e Metodi Quantitativi, Università del Piemonte Orientale “Amedeo Avogadro,”, Via Ettore Perrone 18, 28100, Novara, Italy

    Guido Germano

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  1. Anirban Chakraborti
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Correspondence to Anirban Chakraborti .

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Editors and Affiliations

  1. Dipartimento di Matematica, Università di Milano, Via Saldini 50, Milano, 20133, Italy

    Giovanni Naldi

  2. Dipartimento di Matematica, Università di Ferrara, Via Machiavelli, 35, Ferrara, 44100, Italy

    Lorenzo Pareschi

  3. Dipartimento di Matematica, Università di Pavia, Via Ferrata, 1, Pavia, 27100, Italy

    Giuseppe Toscani

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Chakraborti, A., Germano, G. (2010). Agent-based models of economic interactions. In: Naldi, G., Pareschi, L., Toscani, G. (eds) Mathematical Modeling of Collective Behavior in Socio-Economic and Life Sciences. Modeling and Simulation in Science, Engineering and Technology. Birkhäuser Boston. https://doi.org/10.1007/978-0-8176-4946-3_1

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