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Agent-based and macroscopic modeling of the complex socio-economic systems

  • Aleksejus Kononovicius
  • Valentas Daniunas
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    The current economic crisis has provoked an active response from the interdisciplinary scientific community. As a result many papers suggesting what can be improved in understanding of the complex socio-economics systems were published. Some of the most prominent papers on the topic include (Bouchaud, 2009; Farmer and Foley, 2009; Farmer et al, 2012; Helbing, 2010; Pietronero, 2008). These papers share the idea that agent-based modeling is essential for the better understanding of the complex socio-economic systems and consequently better policy making. Yet in order for an agent-based model to be useful it should also be analytically tractable, possess a macroscopic treatment (Cristelli et al, 2012). In this work we shed a new light on our research group's contributions towards understanding of the correspondence between the inter-individual interactions and collective behavior. We also provide some new insights into the implications of the global and local interactions, the leadership and the predator-prey interactions in the complex socio-economic systems.

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    Paper provided by in its series Papers with number 1303.3693.

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    Date of creation: Mar 2013
    Date of revision: Apr 2013
    Handle: RePEc:arx:papers:1303.3693
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    10. Gontis, V. & Ruseckas, J. & Kononovičius, A., 2010. "A long-range memory stochastic model of the return in financial markets," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 389(1), pages 100-106.
    11. Aleksejus Kononovicius & Vygintas Gontis & Valentas Daniunas, 2012. "Agent-based Versus Macroscopic Modeling of Competition and Business Processes in Economics and Finance," Papers 1202.3533,, revised Jun 2012.
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    16. Robert Axelrod, 1997. "Advancing the Art of Simulation in the Social Sciences," Working Papers 97-05-048, Santa Fe Institute.
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