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Handbook on Information Technology in Finance
Agent-based simulations have produced a variety of interesting contributions to economic research in the past years. Nevertheless, the methodology of economic simulations in general and agent-based simulations in particular is still in question. This is due to the fact that simulations are conducted without considering the underlying theory and links to standard economic approaches. This paper discusses the use of simulations in economics and reviews the four most common agent-based approaches and their link to economic theory.doi:10.1007/978-3-540-49487-4_18 fatcat:w23rusoswzeulcc54ijgjcm57m