74 citations · 88 across the 13 of their papers we have counts for
9 papers · 1 filter
Can Generative AI agents behave like humans? Evidence from laboratory market experiments
R. Maria del Rio-Chanona, Marco Pangallo, Cars Hommes
We explore the potential of Large Language Models (LLMs) to replicate human behavior in economic market experiments. Compared to previous studies, we focus on dynamic feedback betw…
Data-Driven Economic Agent-Based Models
Marco Pangallo, R. Maria del Rio-Chanona
Economic agent-based models (ABMs) are becoming more and more data-driven, establishing themselves as increasingly valuable tools for economic research and policymaking. We propose…
Forecasting Macroeconomic Dynamics using a Calibrated Data-Driven Agent-based Model
Samuel Wiese, Jagoda Kaszowska-Mojsa, Joel Dyer +6
In the last few years, economic agent-based models have made the transition from qualitative models calibrated to match stylised facts to quantitative models for time series foreca…
The unequal effects of the health-economy tradeoff during the COVID-19 pandemic
Marco Pangallo, Alberto Aleta, R. Maria del Rio Chanona +9
The potential tradeoff between health outcomes and economic impact has been a major challenge in the policy making process during the COVID-19 pandemic. Epidemic-economic models de…
In and out of lockdown: Propagation of supply and demand shocks in a dynamic input-output model
Anton Pichler, Marco Pangallo, R. Maria del Rio-Chanona +2
Economic shocks due to Covid-19 were exceptional in their severity, suddenness and heterogeneity across industries. To study the upstream and downstream propagation of these indust…
Production networks and epidemic spreading: How to restart the UK economy?
Anton Pichler, Marco Pangallo, R. Maria del Rio-Chanona +2
We analyse the economics and epidemiology of different scenarios for a phased restart of the UK economy. Our economic model is designed to address the unique features of the COVID-…
Synchronization of endogenous business cycles
Marco Pangallo
Business cycles tend to comove across countries. However, standard models that attribute comovement to propagation of exogenous shocks struggle to generate a level of comovement th…
Towards a taxonomy of learning dynamics in 2 x 2 games
Marco Pangallo, James Sanders, Tobias Galla +1
Do boundedly rational players learn to choose equilibrium strategies as they play a game repeatedly? A large literature in behavioral game theory has proposed and experimentally te…
Residential income segregation: A behavioral model of the housing market
Marco Pangallo, Jean Pierre Nadal, Annick Vignes
We represent the functioning of the housing market and study the relation between income segregation, income inequality and house prices by introducing a spatial Agent-Based Model…