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Agent-Based Modelling in Economics by [Hamill, Lynne, Gilbert, Nigel]
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Agent-Based Modelling in Economics 1st Edition, Kindle Edition


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Product Description

Agent-based modelling in economics

 

Lynne Hamill and Nigel Gilbert, Centre for Research in Social Simulation (CRESS), University of Surrey, UK

 

New methods of economic modelling have been sought as a result of the global economic downturn in 2008.This unique book highlights the benefits of an agent-based modelling (ABM) approach. It demonstrates how ABM can easily handle complexity: heterogeneous people, households and firms interacting dynamically. Unlike traditional methods, ABM does not require people or firms to optimise or economic systems to reach equilibrium. ABM offers a way to link micro foundations directly to the macro situation. 

 

Key features:

  • Introduces the concept of agent-based modelling and shows how it differs from existing approaches.
  • Provides a theoretical and methodological rationale for using ABM in economics, along with practical advice on how to design and create the models.
  • Each chapter starts with a short summary of the relevant economic theory and then shows how to apply ABM.
  • Explores both topics covered in basic economics textbooks and current important policy themes; unemployment, exchange rates, banking and environmental issues.
  • Describes the models in pseudocode, enabling the reader to develop programs in their chosen language.
  • Supported by a website featuring the NetLogo models described in the book.

 

Agent-based Modelling in Economics provides students and researchers with the skills to design, implement, and analyze agent-based models. Third year undergraduate, master and doctoral students, faculty and professional economists will find this book an invaluable resource.

 

From the Back Cover

Agent-based modelling in economics

 Lynne Hamill and Nigel Gilbert, Centre for Research in Social Simulation (CRESS), University of Surrey, UK

 New methods of economic modelling have been sought as a result of the global economic downturn in 2008.This unique book highlights the benefits of an agent-based modelling (ABM) approach. It demonstrates how ABM can easily handle complexity: heterogeneous people, households and firms interacting dynamically. Unlike traditional methods, ABM does not require people or firms to optimise or economic systems to reach equilibrium. ABM offers a way to link micro foundations directly to the macro situation. 

 Key features:

  • Introduces the concept of agent-based modelling and shows how it differs from existing approaches.
  • Provides a theoretical and methodological rationale for using ABM in economics, along with practical advice on how to design and create the models.
  • Each chapter starts with a short summary of the relevant economic theory and then shows how to apply ABM.
  • Explores both topics covered in basic economics textbooks and current important policy themes; unemployment, exchange rates, banking and environmental issues.
  • Describes the models in pseudocode, enabling the reader to develop programs in their chosen language.
  • Supported by a website featuring the NetLogo models described in the book.

 Agent-based Modelling in Economics provides students and researchers with the skills to design, implement, and analyze agent-based models. Third year undergraduate, master and doctoral students, faculty and professional economists will find this book an invaluable resource.


Product details

  • Format: Kindle Edition
  • File Size: 31510 KB
  • Print Length: 250 pages
  • Page Numbers Source ISBN: 1118456076
  • Publisher: Wiley; 1 edition (Nov. 2 2015)
  • Sold by: Amazon Digital Services LLC
  • Language: English
  • ASIN: B017JHMLT4
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • Enhanced Typesetting: Not Enabled
  • Average Customer Review: Be the first to review this item
  • Amazon Bestsellers Rank: #934,550 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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