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Agent-based Models for Economic Policy Design

Author

Listed:
  • Herbert Dawid

    (Department of Economics, University of Bielefeld, P.O. Box 100131, D-33501 Bielefeld, Germany.)

  • Michael Neugart

    (School of Economics and Management, Free University of Bozen, Piazza Università 1, I-39100 Bolzano, Italy.)

Abstract

Agent-based simulation models are used by an increasing number of scholars as a tool for providing evaluations of economic policy measures and policy recommendations in complex environments. On the basis of recent work in this area we discuss the advantages of agent-based modeling for economic policy design and identify further needs to be addressed for strengthening this methodological approach as a basis for sound policy advice.

Suggested Citation

  • Herbert Dawid & Michael Neugart, 2011. "Agent-based Models for Economic Policy Design," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 37(1), pages 44-50.
    • Handle: RePEc:pal:easeco:v:37:y:2011:i:1:p:44-50
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