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Authors
Advisor(s)
Abstract(s)
We analyse the dynamics of agent-based models (ABMs) from a Markovian perspective and derive explicit statements about the possibility of linking a microscopic agent model to the dynamical processes of microscopic observables that are useful for a precise understanding of the model dynamics. In this way the dynamics of collective variables may be studied, and a description of macro dynamics as emergent properties of micro dynamics, in particular during transient times, is possible.
Description
Keywords
Markov Chains Model Dynamics Microeconomics Macroeconomics
Pedagogical Context
Citation
Banisch, Sven, Ricardo Lima e Tanya Araújo. 2012. "Aggregation and emergence in agent based models : a Markov chain approach". Instituto Superior de Economia e Gestão. DE Working papers - nº 25-2012/DE/UECE
Publisher
ISEG - Departamento de Economia