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