The Agent-Based Experiment

Grazzini, Jakob; Richiardi, Matteo; Sella, Lisa

doi:10.1017/9781108227278.008

Cited by 3 publications

(3 citation statements)

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“…The stationarity test can help to detect the point where a system reaches its statistical equilibrium state by using not only a visual and qualitative inspection, but also a quantitative tool. The ergodicity test provides a rigorous base to the analysis of the behavior of the model (see Grazzini 2011b). Any comparison between different settings of the model, or between different policies, should be based on the knowledge about the ergodicity property.…”

Section: Discussionmentioning

confidence: 99%

Analysis of the Emergent Properties: Stationarity and Ergodicity

Grazzini¹

2012

JASSS

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This paper illustrates the use of the nonparametric Wald-Wolfowitz test to detect stationarity and ergodicity in agent-based models. A nonparametric test is needed due to the practical impossibility to understand how the random component influences the emergent properties of the model in many agent-based models. Nonparametric tests on real data often lack power and this problem is addressed by applying the Wald-Wolfowitz test to the simulated data. The performance of the tests is evaluated using Monte Carlo simulations of a stochastic process with known properties. It is shown that with appropriate settings the tests can detect non-stationarity and non-ergodicity. Knowing whether a model is ergodic and stationary is essential in order to understand its behavior and the real system it is intended to represent; quantitative analysis of the artificial data helps to acquire such knowledge.

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Section: Discussionmentioning

confidence: 99%

Analysis of the Emergent Properties: Stationarity and Ergodicity

Grazzini¹

2012

JASSS

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“…If a model is stationary and converges to the same equilibrium µ * (Z 0 , α) = µ * (α) irrespective of the initial conditions Z 0 , the process y k is said to be 'ergodic'. Ergodicity is sometimes defined [59] as:…”

Section: Stationarity and Ergodicitymentioning

confidence: 99%

Agent-Based Modelling: An Overview with Application to Disease Dynamics

Shoukat¹,

Moghadas²

2020

Preprint

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Modelling and computational methods have been essential in advancing quantitative science, especially in the past two decades with the availability of vast amount of complex, voluminous, and heterogeneous data. In particular, there has been a surge of interest in agent-based modelling, largely due to its capabilities to exploit such data and make significant projections. However, any well-established quantitative method relies on theoretical frameworks for both construction and analysis. While the computational aspects of agent-based modelling have been detailed in existing literature, the underlying theoretical basis has rarely been used in its construction. In this exposition, we provide an overview of the theoretical foundation of agent-based modelling and establish a relationship with its computational implementation. In addition to detailing the main characteristics of this computational methodology, we illustrate its application to simulating the spread of an infectious disease in a simple, dynamical process. As the use of agent-based models expands to various disciplines, our review highlights the need for directed research efforts to develop theoretical methods and analytical tools for the analysis of such models.

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“…The method is based on the estimation of an auxiliary regression meta-model (Grazzini et al 2018;Saltelli et al, 2008, ch. 5).…”

Section: The Gsa Proceduresmentioning

confidence: 99%

Job duration and inequality

Desiderio

2020

Economics

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As suggested by recent empirical evidence, one of the causes behind the widespread rise of inequality experienced by OECD countries in the last few decades may have been the increased flexibility of labor markets. The authors explore this hypothesis through the analysis of a stock-flow consistent agent-based macroeconomic model able to reproduce with good statistical precision several empirical regularities. They employ three different sensitivity analysis techniques, which indicate that increasing job contract duration (i.e. decreasing flexibility) has the effect of reducing income and wealth inequality. However, the authors also find that this effect is diminished by tight monetary policy and low credit supply. The last result suggests that the final outcome of structural reforms aimed at changing labor flexibility can depend on the macroeconomic environment in which these are implemented.JEL C15 C63 D31 E50 J01 J41

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The Agent-Based Experiment

Cited by 3 publications

References 0 publications

Analysis of the Emergent Properties: Stationarity and Ergodicity

Analysis of the Emergent Properties: Stationarity and Ergodicity

Agent-Based Modelling: An Overview with Application to Disease Dynamics

Job duration and inequality

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