Related papers: Adaptive Agents and Data Quality in Agent-Based Fi…
We analyze 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 macroscopic observables that are…
Generative artificial intelligence (AI) systems have transformed various industries by autonomously generating content that mimics human creativity. However, concerns about their social and economic consequences arise with widespread…
In this study, we developed a computational framework for simulating large-scale agent-based financial markets. Our platform supports trading multiple simultaneous assets and leverages distributed computing to scale the number and…
Agent-based models (ABMs) are proliferating as decision-making tools across policy areas in transportation, economics, and epidemiology. In these models, a central object of interest is the discrete origin-destination matrix which captures…
The advent of artificial intelligence has led to a growing emphasis on data-driven modeling in macroeconomics, with agent-based modeling (ABM) emerging as a prominent bottom-up simulation paradigm. In ABM, agents (e.g., households, firms)…
This paper introduces an agent-based artificial financial market in which heterogeneous agents trade one single asset through a realistic trading mechanism for price formation. Agents are initially endowed with a finite amount of cash and a…
Mechanistic simulators are an indispensable tool for epidemiology to explore the behavior of complex, dynamic infections under varying conditions and navigate uncertain environments. Agent-based models (ABMs) are an increasingly popular…
The paper proposes a computational adaptation of the principles underlying principal component analysis with agent based simulation in order to produce a novel modeling methodology for financial time series and financial markets. Goal of…
Agent-based models (ABMs) are valuable for modelling complex, potentially out-of-equilibria scenarios. However, ABMs have long suffered from the Lucas critique, stating that agent behaviour should adapt to environmental changes.…
We introduce a framework to study the effective objectives at different time scales of financial market microstructure. The financial market can be regarded as a complex adaptive system, where purposeful agents collectively and…
Within the domain of Massively Multiplayer Online (MMO) economy research, Agent-Based Modeling (ABM) has emerged as a robust tool for analyzing game economics, evolving from rule-based agents to decision-making agents enhanced by…
We introduce a novel hybrid approach that augments Agent-Based Models (ABMs) with behaviors generated by Large Language Models (LLMs) to simulate human trading interactions. We call our model TraderTalk. Leveraging LLMs trained on extensive…
In this proof-of-concept work, we evaluate the performance of multiple machine-learning methods as statistical emulators for use in the analysis of agent-based models (ABMs). Analysing ABM outputs can be challenging, as the relationships…
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…
Large language models (LLMs) are increasingly deployed in agentic frameworks, in which prompts trigger complex tool-based analysis in pursuit of a goal. While these frameworks have shown promise across multiple domains including in finance,…
Agent-Based Models (ABMs) are powerful tools for studying emergent properties in complex systems. In ABMs, agent behaviors are governed by local interactions and stochastic rules. However, these rules are, in general, non-differentiable,…
As Large Language Models (LLMs) become increasingly integrated into financial systems, understanding their behavioural properties is crucial. Do LLMs conform to the rational expectations paradigm, do they exhibit human-like "animal…
This paper describes a formalization of agent-based models (ABMs) as random walks on regular graphs and relates the symmetry group of those graphs to a coarse-graining of the ABM that is still Markovian. An ABM in which $N$ agents can be in…
An increasing number of emerging applications, e.g., internet of things, vehicular communications, augmented reality, and the growing complexity due to the interoperability requirements of these systems, lead to the need to change the tools…
Modern financial exchanges use an electronic limit order book (LOB) to store bid and ask orders for a specific financial asset. As the most fine-grained information depicting the demand and supply of an asset, LOB data is essential in…