Agent-based modelling - A methodology for the analysis of qualitative development processes
Abstract
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.Download Info
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Paper provided by Universitaet Augsburg, Institute for Economics in its series Discussion Paper Series with number 251.Length: pages
Date of creation: Oct 2003
Date of revision:
Handle: RePEc:aug:augsbe:0251
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Related research
Keywords: agent-based modelling; methodology; evolutionary economics; qualitative change;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; Research and Development; Intellectual Property Rights - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-11-03 (All new papers)
- NEP-CBE-2003-11-03 (Cognitive & Behavioural Economics)
- NEP-CMP-2003-11-03 (Computational Economics)
- NEP-HPE-2003-11-03 (History & Philosophy of Economics)
- NEP-MFD-2003-11-03 (Microfinance)
References
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- Thomas Grebel & Andreas Pyka & Horst Hanusch, 2001.
"An Evolutionary Approach to the Theory of Entrepreneurship,"
Discussion Paper Series
206, Universitaet Augsburg, Institute for Economics.
- Thomas Grebel & Andreas Pyka & Horst Hanusch, 2003. "An Evolutionary Approach to the Theory of Entrepreneurship," Industry & Innovation, Taylor and Francis Journals, vol. 10(4), pages 493-514.
- Boulding, K E, 1991. "What Is Evolutionary Economics?," Journal of Evolutionary Economics, Springer, vol. 1(1), pages 9-17, January.
- Evans, David S & Jovanovic, Boyan, 1989. "An Estimated Model of Entrepreneurial Choice under Liquidity Constraints," Journal of Political Economy, University of Chicago Press, vol. 97(4), pages 808-27, August.
- Cantner, Uwe & Pyka, Andreas, 1998. "Technological evolution -- an analysis within the knowledge-based approach," Structural Change and Economic Dynamics, Elsevier, vol. 9(1), pages 85-107, March.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Fagiolo G. & Roventini A., 2004. "Animal Spirits, Lumpy Investment, and the Business Cycle," Computing in Economics and Finance 2004 109, Society for Computational Economics.
- Giovanni Dosi & Giorgio Fagiolo & Andrea Roventini, 2005. "Animal Spirits, Lumpy Investment, and Endogenous Business Cycles," LEM Papers Series 2005/04, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
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