Agent-Based Modelling: A Methodology for Neo-Schumpeterian Economics

Andreas Pyka and Giorgio Fagiolo ()

No 272, Discussion Paper Series from Universitaet Augsburg, Institute for Economics

Abstract: Modellers have had to wrestle with an unavoidable trade-off between thedemand of a general theoretical approach and the descriptive accuracyrequired to model a particular phenomenon. A new class of simulationmodels has shown to be well adapted to this challenge, basically byshifting outwards this trade-off: So-called agent-based models (ABMshenceforth) are increasingly used for the modelling of socio-economicdevelopments. Our paper deals with the new requirements for modellingentailed by the necessity to focus on qualitative developments, patternformation, etc. which is generally highlighted within Neo-SchumpeterianEconomics and the possibilities given by ABMs.

Keywords: Simulation; Neo-Schumpeterian Economics; Agents (search for similar items in EconPapers)
JEL-codes: B52 O30 (search for similar items in EconPapers)
Date: 2005-02
New Economics Papers: this item is included in nep-cbe, nep-cmp, nep-gth, nep-hpe, nep-ino, nep-mic and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (36)

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https://opus.bibliothek.uni-augsburg.de/opus4/files/71178/272.pdf (application/pdf)

Related works:
Chapter: Agent-based Modelling: A Methodology for Neo-Schumpetarian Economics (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:aug:augsbe:0272

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