Explaining herding and volatility in the cyclical price dynamics of urban housing markets using a large scale agent-based model

no code implementations • 16 Apr 2020 • Kirill S. Glavatskiy, Mikhail Prokopenko, Adrian Carro, Paul Ormerod, Michael Harre

The agents' behavior is compatible with economic rationality, with the trend-following behavior found to be essential in replicating market dynamics.