Sensitivity Analysis of an Agent-Based Model of Culture’s Consequences for Trade

Saskia L. G. E. Burgers (), Gert Jan Hofstede (), Catholijn M. Jonker () and Tim Verwaart ()
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Saskia L. G. E. Burgers: Biometris Wageningen UR
Gert Jan Hofstede: Wageningen University
Catholijn M. Jonker: Delft University of Technology
Tim Verwaart: LEI Wageningen UR

A chapter in Progress in Artificial Economics, 2010, pp 253-264 from Springer

Abstract: Abstract This paper describes the analysis of an agent-based model’s sensitivity to changes in parameters that describe the agents’ cultural background, relational parameters, and parameters of the decision functions. As agent-based models may be very sensitive to small changes in parameter values, it is of the essence to know for which changes the model is most sensitive. A long-standing metamodeling-based approach of sensitivity analysis is applied to the agent-based model. The analysis is differentiated for homogeneous and heterogeneous agent populations. Intrinsic stochastic effects of the agent-based model are taken into account. The paper describes how an appropriate regression model has been selected and analyses the parameter’s variance contributions in general and in specific cultural settings.

Keywords: Smoothing Spline; Transaction Cost Economic; Partner Selection; Initial Trust; Trading Agent (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:spr:lnechp:978-3-642-13947-5_21

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DOI: 10.1007/978-3-642-13947-5_21

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