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Agent-based Models for Economic Policy Design

Herbert Dawid and Michael Neugart

Eastern Economic Journal, 2011, vol. 37, issue 1, 44-50

Abstract: Agent-based simulation models are used by an increasing number of scholars as a tool for providing evaluations of economic policy measures and policy recommendations in complex environments. On the basis of recent work in this area we discuss the advantages of agent-based modeling for economic policy design and identify further needs to be addressed for strengthening this methodological approach as a basis for sound policy advice.

Date: 2011
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