OPEN PROBLEMS IN USING AGENT-BASED MODELS IN INDUSTRIAL AND LABOUR DYNAMICS

Nigel Gilbert
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Nigel Gilbert: CRESS, Department of Sociology, School of Human Sciences, University of Surrey, Guildford, Surrey, GU2 7XH, United Kingdom

Chapter 19 in Industry and Labor Dynamics:The Agent-Based Computational Economics Approach, 2004, pp 401-405 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe preceding papers have shown the impressive versatility and potential of agent-based modelling in developing an understanding of industrial and labour dynamics. The main attraction of agent-based models is that the actors - firms, workers, and networks - which are the objects of study in the ‘real world’, can be represented directly in the model. This one-to-one correspondence between model agents and economic actors provides greater clarity and more opportunities for analysis than many alternative modelling approaches. However, the advantages of agent-based modelling have to be tempered by disadvantages and as yet unsolved methodological problems. In this brief summary drawn from the discussion at the closing session of WILD@ACE, I review three of these open problems in the context of the papers presented at the conference: How can agent-based models be empirically validated? What criteria should be used to evaluate the explanatory success of agent-based models? And how can the conclusions of research on similar topics be integrated?

Keywords: Simulation; Agent-Based; Computational Economics; Labor; Industrial Dynamics; Innovation; Cluster; Firm Behavior (search for similar items in EconPapers)
Date: 2004
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