Gibson, Bill - Department of Economics, University of Massachusetts-Amherst - 2008
://people.umass.edu/wgibson.
Key words and phrases. Agent-based models, multi-agent systems, macroeconomic closure.
Prepared for a conference on 70 …
et al., 2007). Agent-based models are characterized by emergent properties that
are not generally possible to anticipate … neoclassical
models. A concluding section argues that while agent-based models incorporate im-
portant elements from both …