Data and Code for: Agent-based modeling in economics and finance

Principal Investigator(s): View help for Principal Investigator(s) Robert Axtell, George Mason University; J. Doyne Farmer, University of Oxford

Version: View help for Version V1

Name	File Type	Size	Last Modified
Figures			08/19/2024 02:36:PM
Models			08/19/2024 02:19:PM
README.pdf	application/pdf	70 KB	12/13/2024 12:36:PM

Project Citation:

Axtell, Robert, and Farmer, J. Doyne. Data and Code for: Agent-based modeling in economics and finance. Nashville, TN: American Economic Association [publisher], 2025. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2025-02-06. https://doi.org/10.3886/E203622V1

Project Description

Summary: Agent-based modeling (ABM) is a novel computational methodology for representing the behavior of individuals in order to study social phenomena. Its use is rapidly growing in many fields. We review ABM in economics and finance and highlight how it can be used to relax conventional assumptions in standard economic models. ABM has enriched our understanding of markets, industrial organization, labor, macro, development, public policy and environmental economics. In financial markets, substantial accomplishments include understanding clustered volatility, market impact, systemic risk and housing markets. We present a vision for how ABMs might be used in the future to build more realistic models of the economy and review some of the hurdles that must be overcome to achieve this.

In this paper there are both ABM outputs and data concerning ABM. We share these here.

Funding Sources: Baillie-Gifford

Scope of Project

Subject Terms: computational economics; agent-based model; model output; citation data

JEL Classification:
      C00 Mathematical and Quantitative Methods: General
      C63 Computational Techniques; Simulation Modeling
      C69 Mathematical Methods; Programming Models; Mathematical and Simulation Modeling: Other
      D00 Microeconomics: General
      E00 Macroeconomics and Monetary Economics: General
      G00 Financial Economics: General

Data Type(s): census/enumeration data; images: photographs, drawings, graphical representations; program source code

Methodology

Data Source: Google Scholar

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Published Versions

V1 [2025-02-06]

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