Agent‐based computational economics (ACE) has been used for tackling major research
questions in macroeconomics for at least two decades. This growing field positions itself as …

This paper addresses a set of methodological problems arising in the empirical validation of
agent-based (AB) economics models and discusses how these are currently being tackled …

In this paper, we discuss a scaling approach to business fluctuations. Our starting point
consists in recognizing that concepts and methods derived from physics have allowed …

This paper addresses the methodological problems of empirical validation in agent-based
(AB) models in economics and how these are currently being tackled. We first identify a set …

We study the impact of the macroeconomic environment on business exit in a world where
acquisition and bankruptcy are co‐determined. We estimate competing risk hazard …

Several studies highlight that the method and the object of analysis of Agent‐Based models
are in various respects in stark contrast to the prevailing neoclassical paradigm and …

Minsky's ideas have recently gained prominence in the mainstream as well as in the
heterodox literature. However, there exists no agreement upon the formal presentation of …

This paper investigates whether the natural selection mechanism (NSM) of economic
Darwinism works in severe recessions. Based on micro data, we constructed a …

In this paper we deal with some validation and calibration experiments on a modified
version of the Complex Adaptive Trivial System (CATS) model proposed in Gallegati et …

“The economy” easily comes to one's mind when looking for examples of a “complex system
with a large ensemble of interacting units”. The layperson usually feels that terms like “out-of …