Agent-Based Modeling: The Right Mathematics for the Social Sciences?

Paul L. Borrill and Leigh Tesfatsion ()

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: This study provides a basic introduction to agent-based modeling (ABM) as a powerful blend of classical and constructive mathematics, with a primary focus on its applicability for social science research. The typical goals of ABM social science researchers are discussed along with the culture-dish nature of their computer experiments. The applicability of ABM for science more generally is also considered, with special attention to physics. Finally, two distinct types of ABM applications are summarized in order to illustrate concretely the duality of ABM: Real-world systems can not only be simulated with verisimilitude using ABM; they can also be efficiently and robustly designed and constructed on the basis of ABM principles.

JEL-codes: B4 C6 C9 D E (search for similar items in EconPapers)
Date: 2010-07-05
New Economics Papers: this item is included in nep-cbe and nep-cmp
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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http://www2.econ.iastate.edu/papers/p11674-2010-07-06.pdf (application/pdf)
http://www2.econ.iastate.edu/tesfatsi/ABMRightMath.PBLTWP.pdf (application/pdf)

Related works:
Chapter: Agent-based Modeling: The Right Mathematics for the Social Sciences? (2011)
Working Paper: Agent-based modeling: the right mathematics for the social sciences? (2011)
Working Paper: Agent-based modeling: the right mathematics for the social sciences? (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:31674

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