Agent-Based Modelling in Economics

von Lynne Hamill

256 Seiten, Hardcover

Kurzbeschreibung des Verlags

Agent-based modelling in economics   Lynne Hamill and Nigel Gilbert, Centre for Research in Social Simulation (CRESS), University of Surrey, UK   New methods of economic modelling have been sought as a result of the global economic downturn in 2008.This unique book highlights the benefits of an agent-based modelling (ABM) approach. It demonstrates how ABM can easily handle complexity: heterogeneous people, households and firms interacting dynamically. Unlike traditional methods, ABM does not require people or firms to optimise or economic systems to reach equilibrium. ABM offers a way to link micro foundations directly to the macro situation.    Key features: - Introduces the concept of agent-based modelling and shows how it differs from existing approaches. - Provides a theoretical and methodological rationale for using ABM in economics, along with practical advice on how to design and create the models. - Each chapter starts with a short summary of the relevant economic theory and then shows how to apply ABM. - Explores both topics covered in basic economics textbooks and current important policy themes; unemployment, exchange rates, banking and environmental issues. - Describes the models in pseudocode, enabling the reader to develop programs in their chosen language. - Supported by a website featuring the NetLogo models described in the book.   Agent-based Modelling in Economics provides students and researchers with the skills to design, implement, and analyze agent-based models. Third year undergraduate, master and doctoral students, faculty and professional economists will find this book an invaluable resource.  

• ISBN: 9781118456071
• Sprache: Englisch
• Erscheinungsdatum: 29.12.2015
• Größe: 233 x 146 mm
• Verlag: John Wiley & Sons