Agent-Based Modelling in Economics Book Reviews
Agent-Based Modelling in Economics by Lynne Hamill & Nigel Gilbert Book Summary
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.
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| Book Name | Agent-Based Modelling in Economics |
| Genre | Social Science |
| Author | Lynne Hamill & Nigel Gilbert |
| Published | 02 November 2015, Monday |
| Language | English |
| E-Book Size | 24.05 MB |
Agent-Based Modelling in Economics (Lynne Hamill & Nigel Gilbert) Book Reviews 2024
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| Download Link | Book Format |
| agent-based-modelling-in-economics-ebook.pdf | |
| agent-based-modelling-in-economics-ebook.epub | EPUB |
| agent-based-modelling-in-economics-ebook.kindle | KINDLE |
Agent-Based Modelling in Economics E-book (PDF, PUB, KINDLE) Download
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Summary of Agent-Based Modelling in Economics by Lynne Hamill & Nigel Gilbert
The Agent-Based Modelling in Economics book written by Lynne Hamill & Nigel Gilbert was published on 02 November 2015, Monday in the Social Science category. A total of 176 readers of the book gave the book 0 points out of 5.
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