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Comments on the paper "Of Ants and Voters: Maximum entropy prediction of agent-based models with recruitment" by S. Barde

Author

Listed:
  • Zakaria Babutsidze

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po, SKEMA Business School - SKEMA Business School, GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur)

Abstract

The paper by Sylvain Barde presents the explorations into the powers of a novel technique (to economics) called Maximum Entropy (MaxEnt hereafter). The methodology was introduced to economics by Foley (1994), but to the present day its potential is largely untapped. MaxEnt allows predicting solutions to agent-based models analytically. The previous use of methodology has been in image reconstruction, where predictions are made about the original image based on the noisy signal at hand. The approach has a great potential on reducing computational time required to run full-fledged agent-based models that are very often NP-difficult.

Suggested Citation

  • Zakaria Babutsidze, 2012. "Comments on the paper "Of Ants and Voters: Maximum entropy prediction of agent-based models with recruitment" by S. Barde," Post-Print halshs-01926892, HAL.
    • Handle: RePEc:hal:journl:halshs-01926892
    DOI: 10.3917/reof.124.0489
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    References listed on IDEAS

    as
    1. Foley Duncan K., 1994. "A Statistical Equilibrium Theory of Markets," Journal of Economic Theory, Elsevier, vol. 62(2), pages 321-345, April.
    2. Daniel M. Abrams & Steven H. Strogatz, 2003. "Modelling the dynamics of language death," Nature, Nature, vol. 424(6951), pages 900-900, August.
    3. Alfarano, Simone & Milakovic, Mishael, 2009. "Network structure and N-dependence in agent-based herding models," Journal of Economic Dynamics and Control, Elsevier, vol. 33(1), pages 78-92, January.
    4. Alan Kirman, 1993. "Ants, Rationality, and Recruitment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(1), pages 137-156.
    5. Sylvain Barde, 2012. "Back to the future: economic rationality and maximum entropy prediction," Studies in Economics 1202, School of Economics, University of Kent.
    6. Schelling, Thomas C, 1969. "Models of Segregation," American Economic Review, American Economic Association, vol. 59(2), pages 488-493, May.
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