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Agent-based modelling. History, essence, future

Author

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  • Gerhard Hanappi

    (Technische Universitat Wien)

Abstract

The paper characterizes the currently fashionable modelling tool, agent-based simulation. First, it presents a selection of the major intellectual roots from which this new tool emerged. It is important for social scientists, in particular economists, to see that two relevant impacts came from neighbouring disciplines: biology and network theory. Then, the paper discusses the essential features that are characteristic of an agent-based model. Since there are currently several different opinions on this topic, the one presented here includes an epistemologically oriented discussion to support its plausibility. In particular, the notion of emergence is scrutinized and extended. Finally, the paper presents a short recipe on how to build an agent-based model, and some ideas on the possible future of agent based modelling.

Suggested Citation

  • Gerhard Hanappi, 2017. "Agent-based modelling. History, essence, future," PSL Quarterly Review, Economia civile, vol. 70(283), pages 449-472.
    • Handle: RePEc:psl:pslqrr:2017:43
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    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/14154/13890
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    Citations

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    Cited by:

    1. Phillip Anthony O’Hara, 2021. "Objectives of the Review of Evolutionary Political Economy’s ‘Manifesto’ and editorial proposals on world problems, complex systems, historico-institutional and corruption issues," Review of Evolutionary Political Economy, Springer, vol. 2(2), pages 359-387, July.
    2. Chareunsy, Andrea K., 2018. "Diffusion of development initiatives in a southern Lao community: An agent based evaluation," Journal of Asian Economics, Elsevier, vol. 54(C), pages 53-68.
    3. Hanappi, Hardy, 2020. "Perplexing Complexity Human Modelling and Primacy of the Group as Essence of Complexity," MPRA Paper 98129, University Library of Munich, Germany.
    4. Hardy Hanappi, 2020. "Perplexing complexity human modelling and primacy of the group as essence of complexity," Review of Evolutionary Political Economy, Springer, vol. 1(3), pages 397-417, November.

    More about this item

    Keywords

    Agent-based modelling; economic simulation models; evolutionary economics;
    All these keywords.

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques

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