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Simulation of Stylized Facts in Agent-Based Computational Economic Market Models

Maximilian Beikirch, Simon Cramer, Martin Frank, Philipp Otte, Emma Pabich, Torsten Trimborn

arXiv 27 Nov 2018 · General Economics · 1 citations (OpenAlex)

arXiv:1812.02726 · PDF · DOI · OpenAlex · Extracted main text

Abstract

We study the qualitative and quantitative appearance of stylized facts in several agent-based computational economic market (ABCEM) models. We perform our simulations with the SABCEMM (Simulator for Agent-Based Computational Economic Market Models) tool recently introduced by the authors (Trimborn et al. 2019). Furthermore, we present novel ABCEM models created by recombining existing models and study them with respect to stylized facts as well. This can be efficiently performed by the SABCEMM tool thanks to its object-oriented software design. The code is available on GitHub (Trimborn et al. 2018), such that all results can be reproduced by the reader.

Citation extraction

45
references
89
in-text mentions
45
distinct cited
3
self-citations
5,389
main-text words

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Most heavily cited references

The works this paper leans on most, across its whole bibliography — not restricted to papers in our corpus. Ranked by composite intensity, which combines how often a work is mentioned, how many sections mention it, and how much of that falls in the main text rather than the appendix.

ReferenceIntensityMentionsSectionsMain text
1Torsten Trimborn, Philipp Otte, Simon Cramer, Maximilian Beikirch, E… (2019) SABCEMM: A simulator for agent-based computational economic market models self1.00094100%
2Rod Cross, Michael Grinfeld, Harbir Lamba, and Tim Seaman (2005) A threshold model of investor psychology0.9285380%
3Moshe Levy, Haim Levy, and Sorin Solomon (1994) A microscopic model of the stock market: cycles, booms, and crashes0.8434375%
4T. Trimborn, P. Otte, S. Cramer, M. Beikirch, E. Pabich, and M. Frank (2018) Simulator for agent based computational economic market models (SABCEMM)0.84333100%
5Elmar Zschischang and Thomas Lux (2001) Some new results on the levy, levy and solomon microscopic stock market model0.81142100%
6Reiner Franke and Frank Westerhoff (2011) Estimation of a structural stochastic volatility model of asset pricing0.7375260%
7Moshe Levy, Haim Levy, and Sorin Solomon (1995) Microscopic simulation of the stock market: the effect of microscopic diversity0.7374275%
8William A Brock and Cars H Hommes (1997) A rational route to randomness0.7373367%
9Reiner Franke and Frank Westerhoff (2012) Structural stochastic volatility in asset pricing dynamics: Estimation and model contest0.73732100%
10Moshe Levy, Nathan Persky, and Sorin Solomon (1996) The complex dynamics of a simple stock market model0.64441100%

Showing the top 10 of 45 scored citations.