Models involving human decision-makers often include idealized assumptions, such as rationality, perfect foresight, and access to relevant information. These assumptions usually assure the models' internal validity but, at the same time, might limit the models' power to explain empirical...

This paper documents our efforts in replicating Epstein’s (1998) demographic prisoner’s dilemma model. While, qualitatively speaking, our replicated model resembles the results of the original model reasonably well, statistical testing reveals that in quantitative terms our endeavor was only...

We develop a simple agent-based financial market model in which heterogeneous speculators apply technical and fundamental analysis to trade in two different stock markets. Speculators’ strategy/market selections are repeated at each time step and depend on predisposition effects, herding...