The Agent ID Model: Motivation and Formal Presentation

In this chapter, an agent-based model is assembled to approach macro phenomena in socio-economic system. The framework takes the designation of Agent ID Model, and it studies the interaction across a population of agents who are connected through a variety of channels. Each agent is unique in the sense that she/he is endowed with a series of idiosyncratic features pertaining to financial endowments, general and specific skills, preferences over goods, degree of connectivity, animal spirits, moral behavior, and political preferences. The model unveils the complexity of social and economic relations and it is capable of approaching aggregate outcomes through a bottom-up perspective.