Standardization for Agent-based Modeling in Economics

Xi Hao Li ()

MPRA Paper from University Library of Munich, Germany

Abstract: By combining the general characteristics of economic system and economic agents with methodologies of multi-agent system analysis and development in the scope of software engineering and computer science, this work proposes an integrative framework that provides standardization for agent-based modeling in economics. This framework serves as a standard for analyzing from `bottom-up' the economic system that embeds with the properties of complexity in structure, heterogeneity in agents' beliefs, and interactions among agents' behaviors. It serves as a guidance on designing a standardized agent-based model for economic system. This standardized agent-based model works as the system model of economic system that can be used and reused among interdisciplinary research across economists and computer scientists.

Keywords: agent-based modeling; economic system; software engineering; complexity; standard. (search for similar items in EconPapers)
JEL-codes: B4 C6 (search for similar items in EconPapers)
Date: 2013-06-04
New Economics Papers: this item is included in nep-cmp
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https://mpra.ub.uni-muenchen.de/54284/1/MPRA_paper_54284.pdf revised version (application/pdf)

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