Building a macro-finance agent-based model with credit and stock market, we investigate how the increasing role of speculative investors in the ownership structure affects managers' planning horizons and R&D investment-buybacks decisions and, consequently, the resulting macro-economic dynamics...

This paper examines the possibility of applying the novel likelihood-free Bayesian inference called BayesFlow proposed by Radev et al. (2020) to the estimation of agent-based models (ABMs). BayesFlow is a fully likelihood-free approach, which directly approximates a posterior rather than a...

Schelling and Sakoda prominently proposed computational models suggesting that strong ethnic residential segregation can be the unintended outcome of a self-reinforcing dynamic driven by choices of individuals with rather tolerant ethnic preferences. There are only few attempts to apply this...

We discuss the impact of a COVID-like shock on a simple toy economy, described by the Mark-0 Agent-Based Model that we developed and discussed in a series of previous papers. We consider a mixed supply and demand shock, and show that depending on the shock parameters (amplitude and duration),...

This paper studies the problem of a monopolistic platform which offers agents connection with one another. Agents have heterogeneous characteristics that are valued by some other agents and observed privately by the principal. The agents are privately informed about their heterogeneous...

Post Keynesian macrodynamic models make various assumptions about the normal rate of capacity utilization. Those rooted in the Classical and neo-Keynesian traditions assume the normal rate is fixed, whereas Kaleckian models treat it as a variable that is endogenous to the actual rate of capacity...

This paper provides a detailed overview of the current state of scientific literature on the coordination of different agents in smart distribution systems. The coordination of agents can be market-driven or network-related. As an important market-driven measure, approaches that allow to reflect...

We study a coordination game on a fixed connected network where players have to choose between two projects. Some players are moderate (i.e. they are ex-ante indifferent between both project) while others are stubborn (i.e. they always choose the same project). Benefits for moderate players are...

We study portfolio selection in a complete continuous-time market where the preference is dictated by the rank-dependent utility. As such a model is inherently time inconsistent due to the underlying probability weighting, we study the investment behavior of sophisticated consistent planners who...

This paper uses a macroeconomic agent-based model building on Delli Gatti et al. (2011) to investigate the influence of agents' expectations and consumption choices on government expenditure multipliers. Following a thorough investigation of the size of the multiplier in the pre-existing...