Technical Analysis of Tourism Price Process in the Eurozone

This study is a specific contribution to investigating normalities in prices to a well-established cointegrated vector autoregressive model (VAR). While the role of prices in computational economics has been investigated, the real prices vis-à-vis nominal prices in the decision process has been neglected. The paper investigates the transition from nominal to real time-series of prices without losing information in the data set when deflating or de-seasonalizing. The likelihood approach is based on careful specifications of the (co)integration characteristics of tourism prices. The results confirm that the transmission of tourism prices in the Eurozone positively impacts Slovenian tourism prices when the spatial consolidated cointegrated VAR model is used. The theoretical-conceptual and empirical contribution is twofold: first, the study develops and empirically applies bona fide divisor of normality consolidation for time-series in levels instead of routinely utilised inflation integers, and second, the study introduces perfection of prices on a long-run time-series treatment.

Consideration of Complexity in the Management of Construction and Demolition Waste Flow in French Regions: An Agent-Based Computational Economics Approach

For each region of France, there is currently a program to implement a plan for regional prevention and management of construction and demolition waste (CDW) used in the buildings and public works (e.g., roads) sector, also called the BTP (from the French Bâtiment et Travaux Publics) sector. To implement such a plan, its complexity must be considered; i.e., account (a) for how different scales are endogenously connected and (b) for decision-making rules at each scale being introduced. However, this complexity has rarely been taken into account in the literature. Using the PACA region as a case-study, this paper presents the first results of modelling that determines a hypotheses for the geographic distribution of the road renovation rate in each municipality (microscale) and Department (mesoscale) in a region of France. Such a renovation requires recycled aggregates (gravel) and asphalt supplies simultaneously. To consider this endogenous connection between scales, the model at the micro-scale must also be calibrated so the simulated values emerging at a higher-scale approach a supply–demand balance. We also discuss the transposition of the model to another French region (Ile-de-France). The method we used is the Agent-based Computational Economics (ACE) modelling approach. In addition, the coherent interplay between scales is determined by an approach called pattern-oriented modelling (POM). Our research revealed, at a thematic level, that for a circular economy to develop, the network of facilities in the territory is very important, and effective commercialization of secondary resources is major in the areas that group together recycling platforms and nearby asphalt plants. At a methodological level, our research revealed that in any multi-level modelling exercise, POM can be seen as an essential approach to accompany the ACE approach, particularly for a macroeconomic (here macro = regional) looping of a model designed at a microscale. However, convincing the BTP sector to integrate ACE/POM as a full part of a methodological support for regional prevention and management of CDW remains a challenge

Agent-based Computational Economics in Management Accounting Research: Opportunities and Difficulties

Agent-based computational economics (ACE) - while adopted comparably widely in other domains of managerial science - is a rather novel paradigm for management accounting research (MAR). This paper provides an overview of opportunities and difficulties that ACE may have for research in management accounting and, in particular, introduces a framework that researchers in management accounting may employ when considering ACE as a paradigm for their particular research endeavor. The framework builds on the two interrelated paradigmatic elements of ACE: a set of theoretical assumptions on economic agents and the approach of agent-based modeling. Particular focus is put on contrasting opportunities and difficulties of ACE in comparison to other research methods employed in MAR.

On the Ontological Turn in Economics: The Promises of Agent-Based Computational Economics

This article argues that agent-based modeling (ABM) is the methodological implication of Lawson’s championed ontological turn in economics. We single out three major properties of agent-based computational economics (ACE), namely, autonomous agents, social interactions, and the micro-macro links, which have been well accepted by the ACE community. We then argue that ACE does make a full commitment to the ontology of economics as proposed by Lawson, based on his prompted critical realism. Nevertheless, the article also points out the current limitations or constraints of ACE. Efforts to overcome them are deemed to be crucial before ACE can make itself more promising to the current ontological turn in economics.