The Economics of Vampires: An Agent-based Perspective
AbstractVampires are a prominent feature of modern culture. Past research identifies the ecological and economic relationship between vampires and living humans under the assumption that 'representative agents' are capable of characterising entire communities. Whether populations of individuals can coordinate themselves sufficiently or not to achieve the same outcomes as the representative agent is not addressed. The purpose of this study is to create a human-vampire ecosystem using artificial social simulation. An agent-based computational model is constructed in which heterogeneous vampire and human individuals engage in one-on-one interaction within a virtual landscape. These interactions result in the emergence of aggregate-level phenomena. Simulating alternative virtual economies under different model calibrations shows under what conditions these emergent phenomena are similar to those produced by the representative agents in previous studies. This article contends that growing human-vampire economies can shed light on an array of social and economic issues even if vampires never existed at all.
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Bibliographic InfoPaper provided by University of Otago, Department of Economics in its series Working Papers with number 1301.
Length: 23 pages
Date of creation: Jan 2013
Date of revision: Jan 2013
economics of vampires; agent-based modelling; artificial social simulation;
Find related papers by JEL classification:
- C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
- J10 - Labor and Demographic Economics - - Demographic Economics - - - General
- P0 - Economic Systems - - General
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- Tesfatsion, Leigh S., 2007.
"Agents Come to Bits: Towards a Constructive Comprehensive Taxonomy of Economic Entities,"
Staff General Research Papers
12513, Iowa State University, Department of Economics.
- Tesfatsion, Leigh, 2007. "Agents come to bits: Towards a constructive comprehensive taxonomy of economic entities," Journal of Economic Behavior & Organization, Elsevier, vol. 63(2), pages 333-346, June.
- Tesfatsion, Leigh S., 2002. "Agent-Based Computational Economics: Growing Economies from the Bottom Up," Staff General Research Papers 5075, Iowa State University, Department of Economics.
- Snower, Dennis J, 1982. "Macroeconomic Policy and the Optimal Destruction of Vampires," Journal of Political Economy, University of Chicago Press, vol. 90(3), pages 647-55, June.
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