In this paper, we examine an agent-based model and an equation-based model in the form of a mean field model. We show how the mean field model is a small, fast model that identifies the high level properties of a subject, in this case financial time series’ stylized facts. The agent based...

It is ironic that most digital money is delivered through very analog agent networks. These networks are defined by large field teams, stacks of paperwork and layers of cash management logistics. The problems the first generation of agent networks faced ten years ago are still issues today, and...

Economies are complicated systems encompassing micro behaviors, interaction patterns, and global regularities. Whether partial or general in scope, studies of economic systems must consider how to handle difficult real-world aspects such as asymmetric information, imperfect competition,...

In recent years, the government, of African Countries has assumed major responsibilities for economic reforms and growth. In attempting to describe their economies, economists (policymakers) in many African Countries have applied certain models that are by now widely known: Linear programming...

Agent-based computational economics (ACE) has been attracting attention in recent years. This method, however, is challenging because of the complexity of the model’s structure due to the coexistence of systems for decision-making and those involved in financial transactions. Further, ACE...