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Agent-based modelling - A methodology for the analysis of qualitative development processes

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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.

Suggested Citation

  • Thomas Grebel & Andreas Pyka, 2003. "Agent-based modelling - A methodology for the analysis of qualitative development processes," Discussion Paper Series 251, Universitaet Augsburg, Institute for Economics.
    • Handle: RePEc:aug:augsbe:0251
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    File URL: http://www.wiwi.uni-augsburg.de/vwl/institut/paper/251.pdf
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    1. Thomas Grebel & Andreas Pyka & Horst Hanusch, 2004. "An evolutionary approach to the theory of entrepreneurship," Chapters,in: Applied Evolutionary Economics and Complex Systems, chapter 7 Edward Elgar Publishing.
    2. 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 808-827, August.
    3. Boulding, K E, 1991. "What Is Evolutionary Economics?," Journal of Evolutionary Economics, Springer, vol. 1(1), pages 9-17, January.
    4. 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.
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    Cited by:

    1. G. Blind & A. Pyka, 2014. "The rule approach in evolutionary economics: A methodological template for empirical research," Journal of Evolutionary Economics, Springer, vol. 24(5), pages 1085-1105, November.
    2. Cevikarslan, Salih, 2013. "Optimal patent length and patent breadth in an R&D driven market with evolving consumer preferences: An evolutionary multi-agent based modelling approach," MERIT Working Papers 020, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    3. Gabriele Tedeschi & Stefania Vitali & Mauro Gallegati, 2014. "The dynamic of innovation networks: a switching model on technological change," Journal of Evolutionary Economics, Springer, vol. 24(4), pages 817-834, September.
    4. Kurt Dopfer, 2013. "Evolutionary Economics," Papers on Economics and Evolution 2013-08, Philipps University Marburg, Department of Geography.
    5. 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.
    6. Cevikarslan, Salih, 2013. "Heterogeneity in innovation strategies, evolving consumer preferences and market structure: An evolutionary multi-agent based modelling approach," MERIT Working Papers 019, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    7. Fagiolo G. & Roventini A., 2004. "Animal Spirits, Lumpy Investment, and the Business Cycle," Computing in Economics and Finance 2004 109, Society for Computational Economics.

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    Keywords

    agent-based modelling; methodology; evolutionary economics; qualitative change;

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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