Agent-based (AB) models are considered a promising tool for macroeconomic analysis. However, until estimation of AB models become a common practice, they will not get to the center stage of macroeconomics. Two diculties arise in the estimation of AB models: (i) the criterion function has no...

In this paper we provide a critical assessment on how agent based models (ABMs) may improve and extend the traditional theoretical approaches on the origin and evolution of property rights, namely the economics of property rights and the evolutionary game models on contest behavior. We contend...