Validation and Calibration of an Agent-Based Model: A Surrogate Approach

Table 1

Model parameters and range settings.

Parameter	Description	Range	Explored range
	Intensity of the choice
	Proportion of type 1 traders
	Intercept term of type 1 agents
	Intercept term of type 2 traders
	Trend of type 1 traders
	Trend of type 2 traders
	Transaction costs
	Impact weight for past prices
	Volatility
	Risk aversion coefficient
	Risk free return
	Number of trading periods