CSS SEMINAR – OCTOBER 2 – KLEMENS
Friday, 2nd October: 10.30am Research 1, Room 301
Using Agent-Based Models as Statistical Models
Ben Klemens, United States Census Bureau
This week’s Friday CSS seminar is being replaced by the CDS/CCDS/Statistics Colloquium Series.
Agent-based models (ABMs) involve the simulation of hundreds to millions of individual agents, each making simple decisions. The results of these decisions are often striking and make a direct qualitative statement. However, ABMs can also be used like traditional statistical models for quantitative analysis. I give the example of an ABM that explains a common anomaly in the distribution of equity prices.