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Open Problems In Using Agent-Based Models In Industrial And Labour Dynamics

In: Industry And Labor Dynamics The Agent-Based Computational Economics Approach

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  • NIGEL GILBERT

    (CRESS, Department of Sociology, School of Human Sciences, University of Surrey, Guildford, Surrey, GU2 7XH, United Kingdom)

Abstract

The preceding papers have shown the impressive versatility and potential of agent-based modelling in developing an understanding of industrial and labour dynamics. The main attraction of agent-based models is that the actors - firms, workers, and networks - which are the objects of study in the ‘real world’, can be represented directly in the model. This one-to-one correspondence between model agents and economic actors provides greater clarity and more opportunities for analysis than many alternative modelling approaches. However, the advantages of agent-based modelling have to be tempered by disadvantages and as yet unsolved methodological problems. In this brief summary drawn from the discussion at the closing session of WILD@ACE, I review three of these open problems in the context of the papers presented at the conference: How can agent-based models be empirically validated? What criteria should be used to evaluate the explanatory success of agent-based models? And how can the conclusions of research on similar topics be integrated?

Suggested Citation

  • Nigel Gilbert, 2004. "Open Problems In Using Agent-Based Models In Industrial And Labour Dynamics," World Scientific Book Chapters, in: Roberto Leombruni & Matteo Richiardi (ed.), Industry And Labor Dynamics The Agent-Based Computational Economics Approach, chapter 19, pages 401-405, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789812702258_0019
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