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The Economics of Vampires: An Agent-based Perspective

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  • Dan Farhat

    ()
    (Department of Economics, University of Otago, New Zealand)

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    Abstract

    Vampires 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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    File URL: http://www.business.otago.ac.nz/econ/research/discussionpapers/DP_1301.pdf
    File Function: First version, 2013
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    Bibliographic Info

    Paper provided by University of Otago, Department of Economics in its series Working Papers with number 1301.

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    Length: 23 pages
    Date of creation: Jan 2013
    Date of revision: Jan 2013
    Handle: RePEc:otg:wpaper:1301

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    Related research

    Keywords: economics of vampires; agent-based modelling; artificial social simulation;

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    References

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    1. 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.
    2. 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.
    3. 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.
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. The obscure economics of vampires
      by Economic Logician in Economic Logic on 2013-03-05 15:06:00

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