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Computer simulations, mathematics and economics

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  • Magda Fontana

Abstract

Economists lise different kinds of computer simulation. However, there is little attention on the theory of simulation, which is considered either a technology or an extension of mathematical theory or, else, a way of modelling that is alternative to verbal description and mathematical models. The paper suggests a systematisation of the relationship between simulations, mathematics and economics. In particular, it traces the evolution of simulation techniques, comments some of the contributions that deal with their nature, and, finally, illustrates with some examples their influence on economie theory. Keywords: Computer simulation, economie methodology, multi-agent programming techniques.
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Suggested Citation

  • Magda Fontana, 2006. "Computer simulations, mathematics and economics," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 53(1), pages 96-123, March.
    • Handle: RePEc:spr:inrvec:v:53:y:2006:i:1:p:96-123
    DOI: 10.1007/BF03029851
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    Cited by:

    1. Fontana, Magda, 2010. "Can neoclassical economics handle complexity? The fallacy of the oil spot dynamic," Journal of Economic Behavior & Organization, Elsevier, vol. 76(3), pages 584-596, December.
    2. Gunnar Eliasson, 2018. "Why Complex, Data Demanding and Difficult to Estimate Agent Based Models? Lessons from a Decades Long Research Program," International Journal of Microsimulation, International Microsimulation Association, vol. 11(1), pages 4-60.
    3. Magda Fontana, 2010. "The Santa Fe Perspective on economics: emerging patterns in the science of complexity," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 18(2), pages 167-196.
    4. Andrew, Rogers & Makindara, Jeremia & Mbaga, Said H. & Alphonce, Roselyne, 2019. "Economic viability of newly introduced chicken strains at village level in Tanzania: FARMSIM model simulation approach," Agricultural Systems, Elsevier, vol. 176(C).
    5. Michaelides, Panayotis G. & Belegri-Roboli, Athena & Arapis, Gerasimos, 2009. "Early Nonlinear Modelling in Economic Analysis: The Hicks Model for Greece Revisited," MPRA Paper 67112, University Library of Munich, Germany.
    6. Fontana Magda, 2008. "The complexity approach to economics : a Paradigm shift," CESMEP Working Papers 200801, University of Turin.
    7. Lutengano Mwinuka & Khamaldin Daud Mutabazi & Stefan Sieber & Jeremia Makindara & Jean-Claude Bizimana, 2017. "An economic risk analysis of fertiliser microdosing and rainwater harvesting in a semi-arid farming system in Tanzania," Agrekon, Taylor & Francis Journals, vol. 56(3), pages 274-289, July.
    8. Arthur, W. Brian, 2023. "Economics in nouns and verbs," Journal of Economic Behavior & Organization, Elsevier, vol. 205(C), pages 638-647.
    9. Alessandro Vaglio, 2010. "Economic growth, Koestler cycles and the lock chamber effect," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 57(4), pages 369-393, December.

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    More about this item

    Keywords

    C63; B4; A12; computer simulation; economic methodology; multi-agent programming techniques;
    All these keywords.

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines

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