By Charlotte Bruun (auth.), Francesco Luna, Alessandro Perrone (eds.)
This moment publication on monetary and monetary simulations in Swarm marks the ongoing development by way of a gaggle of researchers to include agent-based computing device versions as a big device inside of their disci pline. it's encouraging to determine this type of transparent instance of Swarm assisting to foster a neighborhood of clients who depend upon the Swarm framework for his or her personal analyses. Swarm goals at legitimizing agent-based desktop versions as a device for the research of advanced structures. yet another objective is universal base framework will result in the expansion of person groups in particular parts of software. via delivering an organizing framework to lead the advance of extra problem-specific buildings, and via facing an entire variety of concerns that have an effect on their primary correctness and their skill to be built and reused, Swarm has sought to make using agent-based types a valid instrument of medical research that still meets the sensible wishes of investigators inside a community.
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Additional resources for Agent-Based Methods in Economics and Finance: Simulations in Swarm
Usability It must be easy to run the program, interpret the output and understand how the program works. Extensibility It must be possible for future users to adapt the program for new uses. Axelrod's goals are not controversial, but in spite of this, very few economic simulation models achieve the goals to a satisfactory degree. We hope that the models we study have a high validity, but due to a low degree of usability it is hard for us to check the validity ourselves. Further more, if we would like to make some changes in a model pursuing our own research, models are generally hard to extend.
Jares has, however, not split out his stochastic dividend process in an independent and replaceable class. It seems more than likely that the time and effort spent in developing Jares' model could have been reduced by reusing the design and some of the code of the ASM model. It is therefore a good example of the importance of increasing communication between builders of simulation models. 7. Supply Chain Management by Lin, Strader and Shaw We already presented the ORECOS model as a supply chain model.
In an agent-based setting it would also be possible to operate with more realistic behavior. In the present setting it is not easy to justify that the monopolist perform reputation investment when a counterfeiter enters the market, since the consumer is assumed not to be able to tell the difference between products supplied by the monopolist and products supplied by the counterfeiter. In an agent-based setting these assumption could be modified. 5. BankNet by Sapienza An economist has adopted the BankNet model and placed it in a context of theory of financial intermediation (Sapienza(2000)).
Agent-Based Methods in Economics and Finance: Simulations in Swarm by Charlotte Bruun (auth.), Francesco Luna, Alessandro Perrone (eds.)