6 papers
Machine Spirits: Speculation and Adaptation of LLM Agents in Asset Markets
Maxime Saxena, Marco Pangallo, Cars Hommes +2
As Large Language Models (LLMs) become increasingly integrated into financial systems, understanding their behavioural properties is crucial. Do LLMs conform to the rational expect…
Comparing Data Assimilation and Likelihood-Based Inference on Latent State Estimation in Agent-Based Models
Blas Kolic, Corrado Monti, Gianmarco De Francisci Morales +1
In this paper, we present the first systematic comparison of Data Assimilation (DA) and Likelihood-Based Inference (LBI) in the context of an Agent-Based Model (ABM). These models…
Learning Individual Behavior in Agent-Based Models with Graph Diffusion Networks
Francesco Cozzi, Marco Pangallo, Alan Perotti +2
Agent-Based Models (ABMs) are powerful tools for studying emergent properties in complex systems. In ABMs, agent behaviors are governed by local interactions and stochastic rules.…
Statistical Model Checking of NetLogo Models
Marco Pangallo, Daniele Giachini, Andrea Vandin
Agent-based models (ABMs) are gaining increasing traction in several domains, due to their ability to represent complex systems that are not easily expressible with classical mathe…
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…