with agent-based methodology in the top journals. We identify some methodological pitfalls that, according to us, are … common in papers employing agent-based simulations, and propose appropriate solutions. We discuss each issue with reference … establishment of methodological standards in social and economic simulations. …

Since the influential survey by Windrum et al. (2007), research on empirical validation of agent-based models in … stock of such recent literature to offer an updated critical review of existing validation techniques. We sketch a simple … theoretical framework that conceptualizes existing validation approaches, which we discuss along three different dimensions: (i …

Since the influential survey by Windrum et al. (2007), research on empirical validation of agent-based models in … stock of such recent literature to offer an updated critical review of existing validation techniques. We sketch a simple … theoretical framework that conceptualizes existing validation approaches, which we discuss along three different dimensions: (i …

evaluated using Monte Carlo simulations of a stochastic process with known properties. It is shown that with appropriate …

analysis, calibration and upscaling of agent-based models, as well to mimic their prediction for different scenarios. This … implementation and validation of metamodels for agent-based models. …

for micro simulation such as the choice of estimation criteria, calibration to benchmarks and model validation. Some of …

We propose a general protocol for calibration and validation of complex simulation models by an approach based on … theoretical model, another estimated from a set of observed data. Validation is conceived as a measure of matching between the …

In this paper we introduce a calibration procedure for validating of agent based models. Starting from the well …-known financial model of Brock and Hommes 1998, we show how an appropriate calibration enables the model to describe price time series …. We formulate the calibration problem as a nonlinear constrained optimization that can be solved numerically via a …