Andreas Pyka, Giorgio Fagiolo
Agent-Based Modelling: A Methodology for Neo-Schumpeterian Economics
Abstract:
Modellers have had to wrestle with an unavoidable trade-off between the
demand of a general theoretical approach and the descriptive accuracy
required to model a particular phenomenon. A new class of simulation
models has shown to be well adapted to this challenge, basically by
shifting outwards this trade-off: So-called agent-based models (ABMs
henceforth) are increasingly used for the modelling of socio-economic
developments. Our paper deals with the new requirements for modelling
entailed by the necessity to focus on qualitative developments, pattern
formation, etc. which is generally highlighted within Neo-Schumpeterian
Economics and the possibilities given by ABMs.
JEL: B52, O30
Paper:
Paper available as pdf-file.
Beitrag Nr. 272, Volkswirtschaftliche Diskussionsreihe, Institut
für
Volkswirtschaftslehre der Universität Augsburg
Contact:
Andreas
Pyka, University of Augsburg, Department of Economics,
Universitätsstr. 16, D-86159 Augsburg, Phone +49-821-598-4179, Fax
+49-821-598-4229
Giorgio Fagiolo,
Laboratory of Economics and Management, Sant’Anna School of Advanced
Studies, Piazza Martiri della Libertà, 33, I-56127 Pisa
(Italy), Phone +39-050-883341; Fax: +39-050-883344
v.
K., 28.02.2005