Using Agent-Based Simulation Methodology for Teaching Economics
Using Agent-Based Simulation Methodology for Teaching Economics

Summary/Abstract: The agent-based simulation methodology use generative computational approaches for analyzing “complex economic systems” defined as a large set of heterogeneous economic agents interacting with each other. The Agentbased Artificial Economy (AAE) is a grouping of individual artificial entities called agents (A) characterized by common interests that may have distinctive culture and institutions, and are part of an economic, social and industrial infrastructure. In order to create and implement a multi-agent artificial economy, you need a software platform. A simple and accessible platform for creating agent-based artificial societies is NetLogo that uses three types of agents A: turtles Ti, patches Pxy and observer O. The main construction blocks of any agent-based computational model are the next: the set of agents (A), the initializations (I) and simulation specifications (R). The set of agents A contain all agents defined as artificial entities that encapsulate the next elements: parameters, variables, and algorithms. Initializations I are a set of identities that have in left side the variable or parameter name and in the right side the associated value. The simulation specifications R are a set of identities that have in the left side the control parameter name and in the right side the associated value.

• Details
• Contents