Agent-Based Modelling in Economics
by Lynne Hamill and Nigel Gilbert
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BookPal × TalezoAgent-Based Modelling in Economics
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.
Details
- Publisher
- Wiley
- Authors
- Lynne Hamill, Nigel Gilbert
- Format
- Hardcover
- Published
- Jan 26, 2016
- ISBN-13
- 9781118456071
- Pages
- 256
- Carton quantity
- 24 copies
Agent-Based Modelling in Economics for groups: pricing
Volume pricing applies automatically in your cart. No codes, no account needed.
| Copies | Price per copy | You save |
|---|---|---|
| 25 – 99 | $59.46 | 15% off list |
| 100 – 249 | $58.76 | 16% off list |
| 250 – 499 | $58.06 | 17% off list |
| 500 – 999 | $57.36 | 18% off list |
| 1,000+ | $55.96 | 20% off list |
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