COMPUTATIONAL SOCIAL SCIENCE

Department of Computational Social Science Seminar Abstract -Carrella Dissertation Proposal

Friday, January 25 - 10:00 a.m.
161 Research Hall

A Simple Agent-based Theory of Market Processes

Ernesto Carrella
CSS PhD Student
Computational Social Science
George Mason University

Abstract: Agentizing neoclassical models is hard. It requires making up the interaction rules to define what happens to a model out of equilibrium. These rules tend to drive the results but are often ad-hoc. I propose a set of interactions rules that define the market process by which agents trade, produce and invest. These rules are generic, its agents use little information and can be deployed for most general equilibrium models to agentize. I will present the state of the work, the prototype results and discuss the future steps and extensions.