Agent-Based Computational Economics

2007 ◽  
pp. 183-197
Author(s):  
C. Bruun
Keyword(s):  
Economic System ◽  
Autonomous Agents ◽  
Complex Adaptive System ◽  
Methodological Approach ◽  
Computational Economics ◽  
Economic Methodology ◽  
Economic Systems ◽  
New Approach ◽  
Agent Based ◽  
Complex Adaptive

This chapter argues that the economic system is best perceived as a complex adaptive system, and as such, the traditional analytical methods of economics are not optimal for its study. Agent-based computational economics (ACE) studies the economic system from the bottom up and recognizes interaction between autonomous agents as the central mechanism in generating the self-organizing features of economic systems. Besides a discussion of this new economic methodology, a short how-to introduction is given, and the problem of constraining economics as a science within the ACE approach is raised. It is argued that ACE should be perceived as a new methodological approach to the study of economic systems rather than a new approach to economics, and that the use of ACE should be anchored in existing economic theory.

Agent-Based Models

2018 ◽  
Author(s):  
Brenda Heaton ◽  
Abdulrahman El-Sayed ◽  
Sandro Galea
Keyword(s):  
Computational Models ◽  
Autonomous Agents ◽  
Complex Adaptive System ◽  
Agent Based Modeling ◽  
Agent Based Models ◽  
Agent Based ◽  
Or Groups ◽  
Complex Adaptive ◽  
Adaptive Processes ◽  
Neighborhoods And Health

Agent-based modeling is a newer approach to the study of neighborhoods and health. In brief, an agent-based model is one of a class of computational models for simulating the actions and interactions of autonomous agents (both individual or collective entities, such as organizations or groups) with a view to assessing their effects on the system as a whole. Neighborhood characteristics and resources evolve and adapt as the individuals living within them change and vice versa. In this way, neighborhoods reflect a complex adaptive system. In this chapter, we introduce agent-based models as a tool for modeling these interactive and adaptive processes that occur within a system, such as a neighborhood. The chapter provides a basic introduction to this method, drawing on examples from the neighborhoods and health literature.

The principles of duality in the light of the system economic theory

2019 ◽  
pp. 127-149
Author(s):  
George B. Kleiner
Keyword(s):  
Economic Theory ◽  
Economic System ◽  
External Environment ◽  
Black Box ◽  
Space Time ◽  
Production Cycle ◽  
Economic Systems ◽  
New Approach ◽  
Reproduction Cycle ◽  
Basic Concepts

This paper shows the diversity and significance of relations of duality among different economic systems. The composition of the principles underlying the system economic theory used for the analysis of duality in the economy is investigated. The concept of the economic system is clarified and the equivalence of three basic concepts of the economic system is shown: a) as a space-time volume (“black box”); b) as a complex of elements and connections among them; c) as a tetrad, including object, project, process and environment components. In a new way, the concept of the tetrad is revealed. The actual interpretation of the interrelationships of its components, based on the mechanisms of intersystem circulation of spatial and temporal resources and the transmission of abilities from one economic system to another, is proposed. On the basis of the obtained results, the most essential aspects of duality in the theory of economic systems are considered. It is shown that the interaction of internal content and the nearest external environment of economic systems lies in the nature of the relations of duality. A new approach to modeling the structure and to functioning of the economic system, based on the description of its activities in the form of two interconnected tetrads (the first tetrad reflects the intrasystem production cycle and the second one — the external realization-reproduction cycle) is put forward. It is shown that the concept of duality in a system economy creates prerequisites for adapting the functioning of local economic systems (objects, projects, etc.) in a market, administrative and functional environments and, as a result, harmonizing the economy as a whole.

scholarly journals System Dynamics versus Agent-Based Modeling: A Review of Complexity Simulation in Construction Waste Management

2018 ◽  
Vol 10 (7) ◽  
pp. 2484 ◽  
Author(s):  
Zhikun Ding ◽  
Wenyan Gong ◽  
Shenghan Li ◽  
Zezhou Wu
Keyword(s):  
Waste Management ◽  
System Dynamics ◽  
Complex Adaptive System ◽  
Agent Based Modeling ◽  
Effective Management ◽  
Construction Waste ◽  
Agent Based ◽  
Complex Adaptive ◽  
Research Findings ◽  
Novel Model

The environmental impacts caused by construction waste have attracted increasing attention in recent years. The effective management of construction waste is essential in order to reduce negative environmental influences. Construction waste management (CWM) can be viewed as a complex adaptive system, as it involves not only various factors (e.g., social, economic, and environmental), but also different stakeholders (such as developers, contractors, designers, and governmental departments) simultaneously. System dynamics (SD) and agent-based modeling (ABM) are the two most popular approaches to deal with the complexity in CWM systems. However, the two approaches have their own advantages and drawbacks. The aim of this research is to conduct a comprehensive review and develop a novel model for combining the advantages of both SD and ABM. The research findings revealed that two options can be considered when combining SD with ABM; the two options are discussed.

scholarly journals Organizational information security as a complex adaptive system: insights from three agent-based models

2015 ◽  
Vol 19 (3) ◽  
pp. 509-524 ◽  
Author(s):  
A. J. Burns ◽  
Clay Posey ◽  
James F. Courtney ◽  
Tom L. Roberts ◽  
Prabhashi Nanayakkara
Keyword(s):  
Information Security ◽  
Adaptive System ◽  
Complex Adaptive System ◽  
Agent Based Models ◽  
Agent Based ◽  
Organizational Information ◽  
Complex Adaptive

scholarly journals Agent-Based Computational Economics: Growing Economies From the Bottom Up

2002 ◽  
Vol 8 (1) ◽  
pp. 55-82 ◽  
Author(s):  
Leigh Tesfatsion
Keyword(s):  
Complex Adaptive Systems ◽  
Adaptive Systems ◽  
Computational Study ◽  
Computational Economics ◽  
Agent Based ◽  
Research Areas ◽  
Open Questions ◽  
Complex Adaptive ◽  
Potential Benefits ◽  
Number Of Publications

Agent-based computational economics (ACE) is the computational study of economies modeled as evolving systems of autonomous interacting agents. Thus, ACE is a specialization of economics of the basic complex adaptive systems paradigm. This study outlines the main objectives and defining characteristics of the ACE methodology and discusses similarities and distinctions between ACE and artificial life research. Eight ACE research areas are identified, and a number of publications in each area are highlighted for concrete illustration. Open questions and directions for future ACE research are also considered. The study concludes with a discussion of the potential benefits associated with ACE modeling, as well as some potential difficulties.

Application of Modeling and Simulation Based on Agent

2015 ◽  
Vol 740 ◽  
pp. 939-942
Author(s):  
Yan Hua Shao
Keyword(s):  
Modeling And Simulation ◽  
Adaptive System ◽  
Complex Adaptive System ◽  
Computational Finance ◽  
Competitive Behavior ◽  
Agent Based ◽  
Applied Model ◽  
Simulation Based ◽  
Complex Adaptive ◽  
Evolution Modeling

In order to solve the limitation of the research about enterprise evolution modeling and simulation, the idea of applying complex adaptive system theory and agent-based computational finance method to the enterprise research was proposed. Secondly, an applied model of Agent-based enterprise evolution was built. Finally, the simulation program of enterprise evolution based on swarm was built, which simulate the dynamic competitive behavior and evolvement of enterprise, the result of the simulation was analyzed.

Quantum Theory and Artificial Intelligence in the Analysis of the Development of Socio-Economic Systems

2021 ◽  
pp. 22-38
Author(s):  
Jurgita Bruneckiene ◽  
Robertas Jucevicius ◽  
Ineta Zykiene ◽  
Jonas Rapsikevicius ◽  
Mantas Lukauskas
Keyword(s):  
Artificial Intelligence ◽  
Economic Development ◽  
Quantum Theory ◽  
Economic System ◽  
Development Theory ◽  
Economic Systems ◽  
New Approach ◽  
Economic Development Theory

The chapter is designed to stimulate a discussion on a new approach that combines quantum theory with artificial intelligence in the analysis of the economic development of socio-economic systems. The chapter introduces the specifics of the modern socio-economic system and the challenges to economic development. After that, the chapter discusses the possibility and compatibility of approaches (quantum theory) and tools (artificial intelligence) for analysing economic development. The chapter contributes to a new approach in economic development theory by integrating quantum theory and artificial intelligence possibilities. Additionally, the competences needed to use artificial intelligence in the analysis of economic development are presented. The value of the chapter is in its contribution to the original methodological justification of the use of quantum theory and artificial intelligence in the analysis of economic development.

Sign in / Sign up

Export Citation Format

Share Document