Agent-based Computational Economics using NetLogo by Romulus-Catalin Damaceanu

By Romulus-Catalin Damaceanu

"Agent-based Computational Economics utilizing NetLogo" explores how researchers can create, use and enforce multi-agent computational types in Economics by utilizing NetLogo software program platform. difficulties of monetary technological know-how should be solved utilizing multi-agent modelling (MAM). this system makes use of a working laptop or computer version to simulate the activities and interactions of self sustaining entities in a community, with a view to study the consequences at the whole economic climate. MAM combines parts of online game conception, complicated platforms, emergence and evolutionary programming. The Monte Carlo strategy is usually utilized in this book to introduce random components. The eleven versions provided during this textual content simulate the simultaneous operations of a number of brokers in an try to recreate and are expecting advanced fiscal phenomena.
This ebook explains the subject in a scientific demeanour, beginning with an creation for readers for this reason via technique and implementation utilizing NetLogo. the amount ends with conclusions in keeping with the result of the experiments presented.
The publication is meant as a concise and very important source for economists, utilized mathematicians, social sciences scientists, structures analysts, operations researchers and numerical analysts.

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Additional info for Agent-based Computational Economics using NetLogo

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The history of the agent-based models can be traced back to the Von Neumann machine, a theoretical machine capable of reproduction (Neumann, 1966). The concept was improved by Stanislaw Ulam. Another improvement was brought by John Conway. He constructed the well-known Game of Life (Gardner, 1970). The birth of agent based modelling in social sciences was primarily brought by Craig Reynolds (Reynolds, 1987). Joshua M. , 1996). More recently, Ron Sun developed methods for cognitive social simulation (Sun, 2006).

A program written in NetLogo consists of optional declarations (globals, breed, turtles -own, patches -own, -own) in any order, followed by zero or more procedure definitions. Every procedure definition begins with to or to-report, the procedure name, and an optional bracketed list of input names. Every procedure definition ends with end. In between are zero or more commands. Commands take zero or more inputs; the inputs are reporters, which may also take zero or more inputs. No punctuation separates or terminates commands; no punctuation separates inputs.

The process of building the conceptual model can be defined like constructing the initial set of agents (A0), setting the initial values of initializations (I0) and specifying the initial values for simulation specifications (R0) - see (Fig. 1), for a graphical description of the process. This figure shows us how the initial form of the ACM0 enters in the phase of conceptual validation. If this validation fails the conceptual model is modified in a new form ACM1 and the process is reiterated until conceptual validation is a success and the model become subject to operational validation.

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