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A Modular Approach for ABM/LMM Models: Specification of Reusable Building Blocks Centred on the Economic Concepts of WTA and WTP

Author

Listed:
  • Eric Innocenti

    (LISA - Laboratoire « Lieux, Identités, eSpaces, Activités » (UMR CNRS 6240 LISA) - CNRS - Centre National de la Recherche Scientifique - Università di Corsica Pasquale Paoli [Université de Corse Pascal Paoli])

  • Dominique Prunetti

    (LISA - Laboratoire « Lieux, Identités, eSpaces, Activités » (UMR CNRS 6240 LISA) - CNRS - Centre National de la Recherche Scientifique - Università di Corsica Pasquale Paoli [Université de Corse Pascal Paoli])

  • Marielle Delhom

    (SPE - Laboratoire « Sciences pour l’Environnement » (UMR CNRS 6134 SPE) - CNRS - Centre National de la Recherche Scientifique - Università di Corsica Pasquale Paoli [Université de Corse Pascal Paoli])

  • Corinne Idda

    (LISA - Laboratoire « Lieux, Identités, eSpaces, Activités » (UMR CNRS 6240 LISA) - CNRS - Centre National de la Recherche Scientifique - Università di Corsica Pasquale Paoli [Université de Corse Pascal Paoli])

Abstract

Agent-Based Models focusing on land markets provide a computational framework to simulate socio-economic dynamics in land and real-estate markets. In this paper, we introduce the 5-Step Simulation Iterative Modelling Process method, an iterative, five-step modelling and simulation decomposition approach specifically designed to structure the development of Agent-Based Land Market Models. We describe how implementing reusable building blocks-conceptual, computational, and executable-enhances modularity and fosters reusability of both theoretical concepts and software code. An illustrative example, applied to land and real-estate markets in Corsica, concretely demonstrates the application of the method and the creation of these reusable components. The integration of the economic concepts of Willingness To Accept and Willingness To Pay into the design of an Agent-Based Land Market Model exemplifies how these building blocks contribute to market dynamics formation. Finally, we highlight the potential of this approach to strengthen computational simulation, support socio-economic analysis, and promote sustainable land management.

Suggested Citation

  • Eric Innocenti & Dominique Prunetti & Marielle Delhom & Corinne Idda, 2025. "A Modular Approach for ABM/LMM Models: Specification of Reusable Building Blocks Centred on the Economic Concepts of WTA and WTP," Post-Print hal-05161281, HAL.
    • Handle: RePEc:hal:journl:hal-05161281
    Note: View the original document on HAL open archive server: https://hal.science/hal-05161281v1
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    References listed on IDEAS

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    1. Tatiana Filatova & Dawn C. Parker & Anne van der Veen, 2009. "Agent-Based Urban Land Markets: Agent's Pricing Behavior, Land Prices and Urban Land Use Change," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 12(1), pages 1-3.
    2. Volker Grimm & Steven F. Railsback & Christian E. Vincenot & Uta Berger & Cara Gallagher & Donald L. DeAngelis & Bruce Edmonds & Jiaqi Ge & Jarl Giske & Jürgen Groeneveld & Alice S.A. Johnston & Alex, 2020. "The ODD Protocol for Describing Agent-Based and Other Simulation Models: A Second Update to Improve Clarity, Replication, and Structural Realism," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 23(2), pages 1-7.
    3. Jonas Schmidt & Tammo H. A. Bijmolt, 2020. "Accurately measuring willingness to pay for consumer goods: a meta-analysis of the hypothetical bias," Journal of the Academy of Marketing Science, Springer, vol. 48(3), pages 499-518, May.
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