TY - GEN
T1 - Multi-scale Validation of an Agent-Based Housing Market Model
AU - de Koning, Koen
AU - Filatova, Tatiana
PY - 2020
Y1 - 2020
N2 - Validation is a vital step in any model that aspires to have an impact. In agent-based computational economics in particular, it is essential because, unlike most neoclassical economic models, the models are vastly complex and often unique in their kind [1, 2]. Importantly, they often require disaggregated data to specify attributes, behavioural rules and interactions among agents. Therefore, agent-based models require more time and effort to validate. There are numerous ways of validation in agent-based modelling discussed in the literature, e.g [1, 3–7]. Reviewing them is beyond the scope of this paper. Here we will focus on two dimensions of validation: empirical versus theoretical validation and micro- versus macroscale validation. In our agent-based model of the housing market, we have applied both ends of the two spectra.
AB - Validation is a vital step in any model that aspires to have an impact. In agent-based computational economics in particular, it is essential because, unlike most neoclassical economic models, the models are vastly complex and often unique in their kind [1, 2]. Importantly, they often require disaggregated data to specify attributes, behavioural rules and interactions among agents. Therefore, agent-based models require more time and effort to validate. There are numerous ways of validation in agent-based modelling discussed in the literature, e.g [1, 3–7]. Reviewing them is beyond the scope of this paper. Here we will focus on two dimensions of validation: empirical versus theoretical validation and micro- versus macroscale validation. In our agent-based model of the housing market, we have applied both ends of the two spectra.
UR - http://www.scopus.com/inward/record.url?scp=85087901569&partnerID=8YFLogxK
U2 - 10.1007/978-3-030-34127-5_12
DO - 10.1007/978-3-030-34127-5_12
M3 - Conference contribution
AN - SCOPUS:85087901569
SN - 9783030341268
T3 - Springer Proceedings in Complexity
SP - 135
EP - 140
BT - Advances in Social Simulation - Looking in the Mirror, 2018
A2 - Verhagen, Harko
A2 - Borit, Melania
A2 - Bravo, Giangiacomo
A2 - Wijermans, Nanda
PB - Springer
T2 - 14th Social Simulation Conference, 2018
Y2 - 20 August 2018 through 24 August 2018
ER -