Agent-based modelling in economics. (2015)

• Record Type: Book
• Further Information: Note: Lynne Hamill, Nigel Gilbert.
• Authors: Hamill, Lynne; Gilbert, G. Nigel
• Contents: Preface viii; ; Copyright notices ix; ; 1 Why agent?]based modelling is useful for economists 1 ; ; 1.1 Introduction 1; ; 1.2 A very brief history of economic modelling 1; ; 1.3 What is ABM? 4; ; 1.4 The three themes of this book 5; ; 1.5 Details of chapters 6; ; References 9; ; 2 Starting agent?-based modelling 11 ; ; 2.1 Introduction 11; ; 2.2 A simple market: the basic model 12; ; 2.3 The basic framework 13; ; 2.4 Enhancing the basic model: adding prices 18; ; 2.5 Enhancing the model: selecting traders 21; ; 2.6 Final enhancement: more economically rational agents 23; ; 2.7 Running experiments 25; ; 2.8 Discussion 26; ; Appendix 2.A The example model: full version 27; ; References 28; ; 3 Heterogeneous demand 29 ; ; 3.1 Introduction 29; ; 3.2 Modelling basic consumer demand theory 30; ; 3.3 Practical demand modelling 39; ; 3.4 Discussion 43; ; Appendix 3.A How to do it 46; ; References 52; ; 4 Social demand 53 ; ; 4.1 Introduction 53; ; 4.2 Social networks 53; ; 4.3 Threshold models 56; ; 4.4 Adoption of innovative products 62; ; 4.5 Case study: household adoption of fixed?-line phones in Britain 64; ; 4.6 Discussion 70; ; Appendix 4.A How to do it 70; ; References 78; ; 5 Benefits of barter 80 ; ; 5.1 Introduction 80; ; 5.2 One?-to?-one barter 81; ; 5.3 Red Cross parcels 88; ; 5.4 Discussion 96; ; Appendix 5.A How to do it 97; ; References 104; ; 6 The market 105 ; ; 6.1 Introduction 105; ; 6.2 Cournot–Nash model 105; ; 6.3 Market model 108; ; 6.4 Digital world model 117; ; 6.5 Discussion 124; ; Appendix 6.A How to do it 125; ; References 131; ; 7 Labour market 132 ; ; 7.1 Introduction 132; ; 7.2 A simple labour market model 142; ; 7.3 Discussion 151; ; Appendix 7.A How to do it 155; ; References 161; ; 8 International trade 163 ; ; 8.1 Introduction 163; ; 8.2 Models 172; ; 8.3 Discussion 183; ; Appendix 8.A How to do it 185; ; References 187; ; 9 Banking 189 ; ; 9.1 Introduction 189; ; 9.2 The banking model 198; ; 9.3 Discussion 206; ; Appendix 9.A How to do it 209; ; References 212; ; 10 Tragedy of the commons 214 ; ; 10.1 Introduction 214; ; 10.2 Model 218; ; 10.3 Discussion 225; ; Appendix 10.A How to do it 228; ; References 232; ; 11 Summary and conclusions 234 ; ; 11.1 Introduction 234; ; 11.2 The models 234; ; 11.3 What makes a good model? 237; ; 11.4 Pros and cons of ABM 238; ; References 239; ; Index 242
• Edition: 1st
• Publisher Details: Hoboken, New Jersey : John Wiley & Sons, Inc
• Publication Date: 2015
• Extent: 1 online resource
• Subjects: 330.0113; Economics -- Computer simulation; Multiagent systems
• Languages: English
• ISBNs: 9781118945506; 9781118945513
• Related ISBNs: 9781118456071
• Notes: Note: Description based on CIP data; item not viewed.
• Access Rights: Legal Deposit; Only available on premises controlled by the deposit library and to one user at any one time; The Legal Deposit Libraries (Non-Print Works) Regulations (UK).
• Access Usage: Restricted: Printing from this resource is governed by The Legal Deposit Libraries (Non-Print Works) Regulations (UK) and UK copyright law currently in force.