This paper presents a multi-period agent-based model for the study of macro-financial effects related to the introduction of a retail Central Bank Digital Currency (CBDC). Calibrating it with aggregate statistics of the German retail payment market, we exemplify how the model can be used to...

Evacuation is one of the most effective strategies to reduce risk during natural disasters. Although many studies have investigated factors affecting evacuation decisions (e.g., socio-economic, risk forecast, demographic, environmental cues, etc.), how all these factors interplay in forming the...

This study incorporates the difference in agents' trading intervals into the heterogeneous agent model developed by Brock and Hommes (1998). We show that the effect of a longer investment horizon appears as a reduction in the fraction of the strategy adopted by long-term traders under the...

The literature on agent-based macroeconomics has grown substantially over the past decade. However, a typically small set of common features impedes an instructive comparison of model results and obscures the implications of specific model assumptions. While validation and model selection...

Individuals can be slow to update beliefs and may respond to new information in idiosyncratic ways. This paper shows how an individual’s under-reaction to new information (for example, due to lack of attention) and idiosyncratic ways of responding to new information (due to over-reaction or...

The current state of technology means people find themselves interacting with and having to trust artificial intelligent agents. However, despite the considerable history of trust studies, there is no agreement on what trust is and what this construct consists of. The study elaborates on the...

Agent-Based Models (ABM) are computational scenario-generators, which can be used to predict the possible future outcomes of the complex system they represent. To better understand the robustness of these predictions, it is necessary to understand the full scope of the possible phenomena the...

The main idea to author this article is to “Popularize Artificial Human Optimization Field like never before by showing an Overview of this new field”. This idea can be divided into following sub-ideas:1) To show the definition of “Artificial Human Optimization Field (AHO Field)”2) To...