Agent-Based Modeling (ABM) in Economics and Finance

2015 CEF Conference Workshop, Taipei

Murat Yildizoglu
GREThA (UMR CNRS 5113), Bordeaux University
Last update: June 14, 2015

The aim of this workshop is to introduce the participants to the development of ABMs in economics and finance, with a hands-on approach using a user-friendly ABM platform: NetLogo. This six-hours workshop will start with a very quick introduction to agent-based modeling in economics, present the NetLogo platform and its modeling language, and invite the participants to develop a model selected from a sample proposed by the instructor (see the list below). This web site dedicated to the workshop will later propose supplementary documents and information about this workshop.
NetLogo is a modeling platform that is very well adapted to the development of small/medium scale ABMs that can also be run on multi-core computers and clusters. It provides the modeler with tools for developing a graphical user interface for exploring the model's behavior, and learning its modeling language is quite easy.
The users are invited to download and install NetLogo on their computers before the beginning of the workshop. It is available for all major operating systems.

Before the workshop:
  1. Install NetLogo on your laptop
  2. Download (and print?) all support documents
  3. Check the NetLogo Tutorials from the Learning NetLogo section of the NetLogo manual
  4. Charge your battery and bring en extended battery (mainly necessary for the afternoon session)

Outline of the workshop

  1. Introduction: ABMs for modeling the economy as a complex adaptive system (1 hour) - Handout
  2. Introduction to NetLogo: Presentation of NetLogo and of its modeling language using a very simple example (2 hours) - Handout - NetLogo program (Right-click + Save the link as...)
  3. Hands-on session (3,5 hours): each participant will be invited to choose one of the following simple models and to develop a NetLogo version of that model 



NetLogo web site
cumentation of NetLogo
Dictionary of NetLogo language
Quick Introduction to NetLogo by Luis R. Izquierdo
Video tutorials on YouTube by Gabriel Wurzer