Households debt behavior and financial instability: Towards an Agent-based model with experimentally estimated behavioral rules

Abstract

The present paper suggests the development of an experimentally microfounded Agent-based model in order to cope with the complexity and instability of the macroeconomic environment. The focus of the paper is on the microspecification of the ABM. For the micro level, I suggest to design an experiment in order to gain insights into households' behaviors. For the macro level, I plan to build an ABM where agents are estimated, rather than calibrated, by using data collected in the experimental laboratory. © Springer International Publishing Switzerland 2014.