The tremendous development of an easy access to computational power within the last 30 years has led to the widespread use of numerical approaches in almost all scientific disciplines. The first generation of simulation models was rather focused on stylized empirical phenomena. With agent-based modelling, however, the trade-off between simplicity in modelling and taking into account the complexity of the socio-economic reality has been enhanced to a large extent. This paper serves as a basic instruction on how to model qualitative change using an agent-based modelling procedure. The necessity to focus on qualitative change is discussed, agent-based modelling is explained and finally an example is given to show the basic simplicity in modelling.
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Paper provided by Universitaet Augsburg, Institute for Economics in its series Discussion Paper Series with number
251.
Find related papers by JEL classification: B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary O30 - Economic Development, Technological Change, and Growth - - Technological Change - - - General
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