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Standardization for Agent-based Modeling in Economics

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  • Li, Xi Hao

Abstract

By combining the general characteristics of economic system and economic agents with methodologies of multi-agent system analysis and development in the scope of software engineering and computer science, this work proposes an integrative framework that provides standardization for agent-based modeling in economics. This framework serves as a standard for analyzing from `bottom-up' the economic system that embeds with the properties of complexity in structure, heterogeneity in agents' beliefs, and interactions among agents' behaviors. It serves as a guidance on designing a standardized agent-based model for economic system. This standardized agent-based model works as the system model of economic system that can be used and reused among interdisciplinary research across economists and computer scientists.

Suggested Citation

  • Li, Xi Hao, 2013. "Standardization for Agent-based Modeling in Economics," MPRA Paper 47396, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:47396
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    agent-based modeling; economic system; software engineering; complexity; standard.;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling

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