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Title: Behavioral macroeconomics and agent-based macroeconomics
Authors: Chen, Shu-Heng;Gostoli, Umberto
Contributors: 經濟系
Keywords: Artificial intelligence;Asymmetric information;Behavioral macroeconomics;Hyperbolic discounting;Macro-economic models;Rule of thumb;Social preference;Economics
Date: 2014-06
Issue Date: 2015-06-04 13:51:01 (UTC+8)
Abstract: In this article, we review the recent development of the agentbased macroeconomic models (ABMMs) using the skeleton of behavioral macroeconomics as proposed by George Akerlof. Based on the 15 models surveyed in this paper, we find that most behavioral elements addressed by Akerlof have not been well incorporated into the ABMMs. The only element which has been successfully well applied is the decision heuristics (rule-of-thumb behavior). We discuss the fundamental difficulties which cause the current deviations and highlight the expected efforts to meet the gap. © Springer International Publishing Switzerland 2014.
Relation: Advances in Intelligent Systems and Computing, Volume 290, 2014, Pages 47-54, 11th International Symposium on Distributed Computing and Artificial Intelligence 2014, DCAI 2014; Salamanca; Spain; 4 June 2014 到 6 June 2014; 代碼 106952
Data Type: article
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Appears in Collections:[經濟學系] 期刊論文

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