We analyse the consequences of predicting and exploiting financial bubbles in an agent-based model, with a risky and a risk-free asset and three different trader types: fundamentalists, noise traders and "dragon riders" (DR). The DR exploit their ability to diagnose financial bubbles from the...

We develop a macroeconomic agent-based model to study how financial instability can emerge from the co-evolution of interbank and credit markets and the policy responses to mitigate its impact on the real economy. The model is populated by heterogenous firms, consumers, and banks that locally...

This article argues that where an agent disburses a principal's funds in breach of instructions, the principal is prima facie entitled at common law to bring a restitutionary claim against the agent for a refund of the moneys so disbursed. Such a claim is merely a manifestation of a general...

This work nests the Agent-Based macroeconomic perspective into the earlier history of macroeconomics. We discuss how the discipline in the 70's took a perverse path relying on models grounded on fictitious rational representative agent in order to try to pathetically circumvent aggregation and...

This paper studies incentive contracts between a risk-neutral principal and a risk-averse sales agent in a standard moral-hazard model. We show that a quota-based contract can achieve a first-best outcome when the agent is risk-averse. Furthermore, we show that if the agent is sufficiently...

This working paper reports the current stage of development of an agent-based model (ABM) of regional knowledge creation in Europe. Building on the scientific and conceptual foundations laid out before (see Duenser et al. 2017) the paper focuses on the specifications regarding model...

In this paper, we introduce a small-scale heterogeneous agent-based model of the US corporate bond market. The model includes a realistic micro-grounded ecology of investors that trade a set of bonds through dealers. Using the model, we simulate market dynamics that emerge from agent behaviors...