MACRO AND MICRO DYNAMICS IN AN ARTIFICIAL SOCIETY: AN AGENT BASED APPROACH

Thomas Fent

Modeling, Computing, and Mastering Complexity 2003 from Society for Computational Economics

Abstract: This paper deals with artificial agents buying and selling products in a virtual market of goods that may be substituted for each other. On the demand side the market features a homogenous group of agents whose dynamics are determined by three different scenarios. The supply side, on the other hand, is heterogenous and contains two types of adaptive (learning) agents and two types of agents who do not learn but stick to their initially given strategy. It turns out that the success of the learning strategy is highly sensitive with respect to the dynamics of the demand side.

Keywords: agent based modelling; product positioning; imperfect information; learning; imitating; learning classifier systems; genetic algorithms (search for similar items in EconPapers)
JEL-codes: C61 D83 L15 M31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cbe, nep-cmp, nep-mac and nep-mic
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Persistent link: https://EconPapers.repec.org/RePEc:sce:cplx03:06

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