Multi-scale Validation of an Agent-Based Housing Market Model

Koen de Koning*, Tatiana Filatova

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contributionAcademicpeer-review

Abstract

Validation is a vital step in any model that aspires to have an impact. In agent-based computational economics in particular, it is essential because, unlike most neoclassical economic models, the models are vastly complex and often unique in their kind [1, 2]. Importantly, they often require disaggregated data to specify attributes, behavioural rules and interactions among agents. Therefore, agent-based models require more time and effort to validate. There are numerous ways of validation in agent-based modelling discussed in the literature, e.g [1, 3–7]. Reviewing them is beyond the scope of this paper. Here we will focus on two dimensions of validation: empirical versus theoretical validation and micro- versus macroscale validation. In our agent-based model of the housing market, we have applied both ends of the two spectra.

Original languageEnglish
Title of host publicationAdvances in Social Simulation
Subtitle of host publicationLooking in the Mirror
EditorsHarko Verhagen, Melania Borit, Giangiacomo Bravo, Nanda Wijermans
PublisherSpringer Singapore
Pages135-140
Number of pages6
ISBN (Electronic)978-3-030-34127-5
ISBN (Print)978-3-030-34126-8
DOIs
Publication statusPublished - 1 Jan 2020
Event14th Annual Conference on Social simulation 2018: Looking in the mirror - Department of Computer and Systems Sciences (DSV), Stockholm, Sweden
Duration: 20 Aug 201824 Aug 2018
Conference number: 14
http://ssc2018.dsv.su.se/

Publication series

NameSpringer Proceedings in Complexity
ISSN (Print)2213-8684
ISSN (Electronic)2213-8692

Conference

Conference14th Annual Conference on Social simulation 2018
Abbreviated titleSSC 2018
CountrySweden
CityStockholm
Period20/08/1824/08/18
Internet address

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  • Cite this

    de Koning, K., & Filatova, T. (2020). Multi-scale Validation of an Agent-Based Housing Market Model. In H. Verhagen, M. Borit, G. Bravo, & N. Wijermans (Eds.), Advances in Social Simulation: Looking in the Mirror (pp. 135-140). (Springer Proceedings in Complexity). Springer Singapore. https://doi.org/10.1007/978-3-030-34127-5_12