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The reproduction of realistic dynamics in financial markets is of great significance, as it enhances our understanding of market evolution beyond other physical processes, and facilitates the development and backtesting of investment…
Agent-Based Modeling and Simulation (ABMS) is a simple and yet powerful method for simulation of interactions among individual agents. Using ABMS, different phenomena can be modeled and simulated without spending additional time on…
Emergency departments (ED) face challenges in patient care and resource management. We propose to explore optimization strategies in a realistic and flexible model and develop a hybrid Discrete Event Simulation (DES) and Agent-Based Model…
Agent-based models (ABMs) have shown promise for modelling various real world phenomena incompatible with traditional equilibrium analysis. However, a critical concern is the manual definition of behavioural rules in ABMs. Recent…
This research investigated the simulation model behaviour of a traditional and combined discrete event as well as agent based simulation models when modelling human reactive and proactive behaviour in human centric complex systems. A…
Capturing and simulating intelligent adaptive behaviours within spatially explicit individual-based models remains an ongoing challenge for researchers. While an ever-increasing abundance of real-world behavioural data are collected, few…
We present our Agent-Based Market Microstructure Simulation (ABMMS), an Agent-Based Financial Market (ABFM) that captures much of the complexity present in the US National Market System for equities (NMS). Agent-Based models are a natural…
Large Language Models (LLMs) have increasingly demonstrated the ability to facilitate the development of multi-agent systems that allow the interpretation of thoughts and actions generated by each individual. Promising advancements have…
The development of open benchmarking platforms could greatly accelerate the adoption of AI agents in retail. This paper presents comprehensive simulations of customer shopping behaviors for the purpose of benchmarking reinforcement learning…
Simulating consumer decision-making is vital for designing and evaluating marketing strategies before costly real-world deployment. However, post-event analyses and rule-based agent-based models (ABMs) struggle to capture the complexity of…
Immersive rooms are increasingly popular augmented reality systems that support multi-agent interactions within a virtual world. However, despite extensive content creation and technological developments, insights about perceptually-driven…
Recent interest in human-AI interactions in agent-based modeling and simulation (ABMS) has grown rapidly due to the widespread utilization of large language models (LLMs). ABMS is an intelligent approach that simulates autonomous agents'…
In this paper, we investigate output accuracy for a Discrete Event Simulation (DES) model and Agent Based Simulation (ABS) model. The purpose of this investigation is to find out which of these simulation techniques is the best one for…
Computer simulations offer a robust toolset for exploring complex systems across various disciplines. A particularly impactful approach within this realm is Agent-Based Modeling (ABM), which harnesses the interactions of individual agents…
Optimal order execution is widely studied by industry practitioners and academic researchers because it determines the profitability of investment decisions and high-level trading strategies, particularly those involving large volumes of…
Multi-agent reinforcement learning (MARL) models multiple agents that interact and learn within a shared environment. This paradigm is applicable to various industrial scenarios such as autonomous driving, quantitative trading, and…
Investors and regulators can greatly benefit from a realistic market simulator that enables them to anticipate the consequences of their decisions in real markets. However, traditional rule-based market simulators often fall short in…
The premise of this working paper is based around agent-based simulation models and how to go about creating them from given incomplete information. Agent-based simulations are stochastic simulations that revolve around groups of agents…
Nowadays, we are surrounded by a large number of complex phenomena ranging from rumor spreading, social norms formation to rise of new economic trends and disruption of traditional businesses. To deal with such phenomena,Complex Adaptive…
The understanding of human central nervous system depends on knowledge of its wiring. However, there are still gaps in our understanding of its wiring due to technical difficulties. While some information is coming out from human…