Standardization of Agent-based Modeling in Economic System

13 Pages Posted: 17 Jul 2010 Last revised: 6 Mar 2014

See all articles by Xi Hao Li

Xi Hao Li

Università Politecnica delle Marche - Department of Economics

Date Written: December 2013

Abstract

This work combines generic complexity of economic system and economic agents with methodologies of multi-agent system analysis and development. This combination results in an integrative framework that serves as communication protocol for delivering and transmitting agent-based model for economic system. The integrative framework provides guidance for analyzing economic system in micro-level, which embeds with properties of complexity in structure, heterogeneity in agents' beliefs, and interactions among agents' behaviors. It provides routines on developing standardized agent-based model for economic system that can be used and reused among interdisciplinary research.

Keywords: Economic system, Agent-based modeling, Complexity, Standardization

JEL Classification: B4, C6

Suggested Citation

Li, Xi Hao, Standardization of Agent-based Modeling in Economic System (December 2013). Available at SSRN: https://ssrn.com/abstract=1640008 or http://dx.doi.org/10.2139/ssrn.1640008

Xi Hao Li (Contact Author)

Università Politecnica delle Marche - Department of Economics ( email )

Piazzale Martelli 8
Ancona, Marche 60121
Italy

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