The recent economic events driven by the big financial crisis of 2007-08 has cogently put to the fore the limits and drawbacks of the ruling research paradigm in macroeconomics. This volume goes to the root of the problem by offering a workable alternative to the renowned issue of the...

The aim of this paper is to empirically validate the agent-based macroeconomic model of Gaffeo et al. [2008]. We show that the microsimulated version of the model is able to replicate actual data with a satisfactory degree of precision. From a theoretical point of view, our validation approach...

We examine the Boulogne wholesale fish market, analysing the structure of the trading network between sellers and buyers. Differently from other works in the literature, our analysis indicates a significant amount of ‘bilateral loyalty’ seller--buyer. Loyalty is from buyers to a few sellers...