COMPUTATIONAL SOCIAL SCIENCE

Department of Computational Social Science Seminar Abstract

Friday, 2nd October: 10.30am Research 1, Room 301

Using Agent-Based Models as Statistical Models

Ben Klemens, United States Census Bureau

This week’s Friday CSS seminar is being replaced by the CDS/CCDS/Statistics Colloquium Series.

Agent-based models (ABMs) involve the simulation of hundreds to millions of individual agents, each making simple decisions. The results of these decisions are often striking and make a direct qualitative statement. However, ABMs can also be used like traditional statistical models for quantitative analysis. I give the example of an ABM that explains a common anomaly in the distribution of equity prices.