This paper shows a possible modeling strategy of agents' expectation formation in the agent-based models (ABM). After a brief survey about the introduction of expectation in macroeconomics the work discusses the use of the CEE-SAC learning scheme suggested in Hommes (2013)

Credit network configurations play a crucial role in determining the vulnerability of the economic system. Following the network-based financial accelerator approach, we constructed an agent based model reproducing an artificial credit network that evolves endogenously according to the leverage...

Agents forming adaptive expectations generally make systematic mistakes. This characterization has fostered the rejection of adaptive expectations in macroeconomics. Experimental evidence, however, shows that in complex environments human subjects frequently rely on adaptive heuristics –...

Agents forming adaptive expectations generally make systematic mistakes. This characterization has fostered the rejection of adaptive expectations in macroeconomics. Experimental evidence, however, shows that in complex environments human subjects frequently rely on adaptive heuristics –...

Introduction to agent-based economics -- Decentralized interacting macroeconomics and the agent-based "modellaccio" -- AD-AS representation of macroeconomic emergent properties -- Heterogeneity in macroeconomics: DSGE and agent-based model approach -- Early warning indicator for crises in an...

Front Cover -- Introduction to Agent-Based Economics -- Copyright -- Contents -- Contributors -- Foreword -- Part I Introduction -- 1 An Introduction to Agent-Based Computational Macroeconomics -- References -- Part II Macroeconomic Agent-Based Computational Economics -- 2 Decentralized...