Lynne Hamill,Nigel Gilbert's Agent-Based Modelling in Economics PDF

By Lynne Hamill,Nigel Gilbert

ISBN-10: 1118456076

ISBN-13: 9781118456071

Agent-based modelling in economics


Lynne Hamill and Nigel Gilbert, Centre for examine in Social Simulation (CRESS), collage of Surrey, UK


New tools of financial modelling were sought as a result international monetary downturn in 2008.This detailed e-book highlights the advantages of an agent-based modelling (ABM) strategy. It demonstrates how ABM can simply deal with complexity: heterogeneous humans, families and corporations interacting dynamically. not like conventional equipment, ABM doesn't require humans or corporations to optimise or monetary platforms to arrive equilibrium. ABM deals the way to hyperlink micro foundations on to the macro situation. 


Key features:

  • Introduces the concept that of agent-based modelling and exhibits the way it differs from latest approaches.
  • Provides a theoretical and methodological cause for utilizing ABM in economics, in addition to useful recommendation on the best way to layout and create the models.
  • Each bankruptcy begins with a quick precis of the appropriate financial concept after which indicates the best way to practice ABM.
  • Explores either themes lined in easy economics textbooks and present very important coverage subject matters; unemployment, trade charges, banking and environmental issues.
  • Describes the versions in pseudocode, allowing the reader to advance courses of their selected language.
  • Supported by way of an internet site that includes the NetLogo types defined within the book.


Agent-based Modelling in Economics provides scholars and researchers with the talents to layout, enforce, and examine agent-based versions. 3rd 12 months undergraduate, grasp and doctoral scholars, college economists will locate this e-book a useful resource.


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Agent-Based Modelling in Economics by Lynne Hamill,Nigel Gilbert

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