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Aggregation and Emergence in Agent-Based Models: A Markov Chain Approach


  • Sven Banisch
  • Ricardo Lima
  • Tanya Araújo


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

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  • Sven Banisch & Ricardo Lima & Tanya Araújo, 2012. "Aggregation and Emergence in Agent-Based Models: A Markov Chain Approach," Working Papers Department of Economics 2012/25, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
  • Handle: RePEc:ise:isegwp:wp252012

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    Cited by:

    1. Grazzini, Jakob & Richiardi, Matteo G. & Tsionas, Mike, 2017. "Bayesian estimation of agent-based models," Journal of Economic Dynamics and Control, Elsevier, vol. 77(C), pages 26-47.

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